RBI's communication style leaves room for debate

Now the issue is whether the repo rate in isolation is adequate in the absence of the corridor

Of late, Reserve Bank of India (RBI) executives have been reinterpreting various constituents of monetary policy virtually without any public debate. Worse, their analytical underpinnings are conveyed to the public often through signed articles in RBI publications. This peculiar situation has arisen because public speeches on monetary policy from RBI executives have become sparse from January 2013 onwards.  

Let us come to the specifics. The Report on Currency and Finance with the theme “Reviewing the Monetary Policy Framework” was published on February 26, 2021. Each chapter with erudition was written by authors to whom the views would be attributed. For our