Financial Inclusion Empowers Monetary Policy (Keynote Address by Dr. Michael Debabrata Patra, Deputy Governor, RBI on December 24, 2021 - in the project on Financial Inclusion, a joint initiative by the IIMA, IRMA and CIIE organised by the IIM, Ahmedabad) https://www.taxtmi.com/news?id=24883 Financial inclusion shapes monetary policy by improving interest-rate transmission, reducing consumption and output volatility via access to savings and credit, and by making headline inflation a more relevant target in economies where excluded households' consumption is dominated by food. The RBI's national FI Index permits transparent measurement of inclusion, enabling its incorporation into policy reaction functions and informing the choice of price metric, the inflation-output trade-off, and the calibration of policy rate changes to maximise welfare. en-us Fri, 24 Dec 2021 17:00:07 +0530 Fri, 24 Dec 2021 17:00:07 +0530 TaxTMI RSS Generator Financial Inclusion Empowers Monetary Policy (Keynote Address by Dr. Michael Debabrata Patra, Deputy Governor, RBI on December 24, 2021 - in the project on Financial Inclusion, a joint initiative by the IIMA, IRMA and CIIE organised by the IIM, Ahmedabad) https://www.taxtmi.com/news?id=24883 Financial inclusion shapes monetary policy by improving interest-rate transmission, reducing consumption and output volatility via access to savings and credit, and by making headline inflation a more relevant target in economies where excluded households' consumption is dominated by food. The RBI's national FI Index permits transparent measurement of inclusion, enabling its incorporation into policy reaction functions and informing the choice of price metric, the inflation-output trade-off, and the calibration of policy rate changes to maximise welfare. News - Fri, 24 Dec 2021 17:00:07 +0530 https://www.taxtmi.com/news?id=24883