Monetary policy is the policy which is concerned with the change in supply of money. It is formulated and operated by Reserve Bank of India (RBI) to achieve some specific objectives.
Definition : According to D.C. Crown “ The discretionary act undertaken by the authorities designed to influence (a) the supply of money (b) cost of money or rate of interest (c) the availability of money for achieving specific objectives” called monetary policy.
Thus monetary policy is related to that measures which are related to control the money supply in economy.
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