Which of the following organisations is mandated to

Solution

Monetary policy is the process by which the monetary authority of a country, generally central bank, controls the supply of money in the economy by its control over interest rates in order to maintain price stability and achieve high economic growth.In India, the central monetary authority is the Reserve Bank of India (RBI). It is designed to maintain the price stability in the economy. Monetary policy states that the use of financial instruments under the control of the Reserve Bank of India to standardise magnitudes such as availability of credit, interest rates, and money supply to achieve the ultimate objective of economic policy mentioned in the Reserve Bank of India Act, 1934.