Monetary Policy

The Editor The Economic Times July 6, 2026 Chat Room* Dear RBI, Let's Talk Monetary Apropos "A Little More Conversation" by Mythili Bhusnurmath (July 6), a call for more openness in the formulation and implementation of monetary policy by RBI is timely. Perhaps the architecture of the policy formulation mechanism in RBI has got decoupled from that of Federal Reserve in recent times. In the process of setting up MPC, without disturbing the statutory expectations from the central bank, GOI ensured that the deciding voice in monetary policy formulation will remain with government. This has almost silenced the 'Open Market' spars between RBI and GOI. Stakeholders other than GOI can contribute more in monetary policy formulation by proactively responding to RBI's formal policy announcements. M G Warrier Mumbai *Published on July 7

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