<h1>RBI Maintains Accommodative Stance in 2016-17, Future Actions Dependent on Macroeconomic and Financial Developments, per Finance Minister.</h1> The Reserve Bank of India (RBI) is tasked with conducting monetary policy to ensure price stability and foster growth. The Monetary Policy Framework Agreement with the government, established on February 20, 2015, targets inflation using the consumer price index-combined (CPI-C). This framework involves setting the policy (repo) rate based on inflation forecasts, growth, and macroeconomic risks, while managing liquidity to align money market rates with the repo rate. As of the Second Bi-Monthly Monetary Policy statement for 2016-17, RBI maintained an accommodative stance, with future policy actions contingent on macroeconomic and financial developments. This was disclosed by the Union Finance Minister in response to a parliamentary query.