Economics · Economy

Which measure best signifies the enhancement of RBI's autonomy through the shift from direct monetary controls to market-based instruments after 1991?

Verified Solution4 OptionsUpdated: October 2026👁️1 View

1The RBI's shift from open market operations to moral suasion as a control mechanism
2Repeal of the Banking Regulation Act to promote autonomy
3Implementation of a fixed monetary base with a rigid money supply target
4Phasing out of ad hoc treasury bills and introduction of Ways and Means Advances (WMA)✓

Correct answer

Phasing out of ad hoc treasury bills and introduction of Ways and Means Advances (WMA)

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