The policy focuses upon providing a quantum boost to industrial growth through both widening as well as deepening the financial markets which simultaneously recognise the need for greater integration of the various financial markets.
The single most immediate impact of the policy announcement is to increase the depth of the financial markets through measures such as the re-introduction of fortnightly auctions on 182-day t-bills, reducing lock-in periods for CDs and units of MMMFs, and the granting of permission of FIIs to enter the t-bill markets.
The governor has responded to the industry and the banking sector
