We plan to build the Reserve Bank’s developmental measures over the next few quarters on five pillars. These are: Clarifying and strengthening the monetary policy framework. Strengthening banking structure through new entry, branch expansion, encouraging new varieties of banks, and moving foreign banks into better regulated organizational forms. Broadening and deepening financial markets and increasing their liquidity and resilience so that they can help allocate and absorb the risks entailed in financing India’s growth. Expanding access to finance to small and medium enterprises, the
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