<h1>Monetary policy accountability mandates reporting and corrective action when inflation persistently breaches tolerance bands.</h1> Geopolitical shocks have raised inflation and external vulnerabilities, prompting the central bank to shift from accommodation to withdrawal of accommodation and to tighten policy to anchor expectations, prevent second round effects from food and fuel, and stabilise capital flows. The RBI Act requires the central bank to report to the government if average inflation breaches the notified tolerance band for three consecutive quarters, setting out reasons, remedial actions and a timeline; the MPC will hold a scheduled meeting to draft that mandated report, integrating committee deliberations into the statutory accountability process.