Reserve Bank of India's Monetary Policy Moves Since 2008

This book provides an analysis of impact of changes in key RBI monetary policy rates and ratios on price stability

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The Global Financial Crisis has been one of the most significant economic shocks since the Great Depression. With global integration of the Indian economy, monetary policy has been playing an important role through its direct and indirect effects on the economy. This book explores the efforts of Reserve Bank of India in mitigating the negative effects on price stability in the aftermath of the Crisis. The work employs both descriptive and inferential tools of statistics on a set of chosen variables. After investigating empirically, it is found that amongst the policy rates and ratios, CRR and repo rate were actively used until 2014. However, post 2014, repo rate has been the only active tool along with reverse repo rate and bank rate (which are aligned to it directly and indirectly respectively). The study evaluates if the correct approach, would be to employ all the instruments judiciously combined in right proportions to achieve the objectives of monetary policy effectively. Read the book to find out if there was a definite and remarkable economic impact of monetary policy on Indian economy in the post-recession period.


Chetana Asbe


Dr. Chetana Asbe holds a post graduate degree in Financial Management and Commerce from University of Mumbai. She has also pursued CFA from ICFAI, Hyderabad, India. Her work experience is a blend of industry and academics.

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LAP LAMBERT Academic Publishing


Reserve Bank of India, Monetary Policy, Price Stability

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