{"id":2605,"date":"2021-07-13T18:36:20","date_gmt":"2021-07-13T13:06:20","guid":{"rendered":"https:\/\/www.goseeko.com\/blog\/?p=2605"},"modified":"2021-10-30T07:39:55","modified_gmt":"2021-10-30T07:39:55","slug":"what-is-monetary-policy","status":"publish","type":"post","link":"https:\/\/www.goseeko.com\/blog\/what-is-monetary-policy\/","title":{"rendered":"What is monetary policy?"},"content":{"rendered":"\n<p>Monetary policy refers to the actions undertaken by monetary authority of a country to control money supply and achieve sustainable growth. In India, the RBI issued monetary policy to control the credit capacity of commercial banks. In other words, monetary policy is a modification of the supply of money, i.e.&nbsp;<a href=\"https:\/\/en.wikipedia.org\/wiki\/Money_creation\">&#8220;printing&#8221; more money<\/a>, or decreasing the money supply by changing interest rates or removing&nbsp;<a href=\"https:\/\/en.wikipedia.org\/wiki\/Excess_reserves\">excess reserves<\/a>. This is in contrast to&nbsp;<a href=\"https:\/\/en.wikipedia.org\/wiki\/Fiscal_policy\">fiscal policy<\/a>, which relies on&nbsp;<a href=\"https:\/\/en.wikipedia.org\/wiki\/Tax\">taxation<\/a>,&nbsp;<a href=\"https:\/\/en.wikipedia.org\/wiki\/Government_spending\">government spending<\/a>, and&nbsp;<a href=\"https:\/\/en.wikipedia.org\/wiki\/Government_borrowing\">government borrowing<\/a>. <\/p>\n\n\n\n<p>The objectives of monetary policy are-<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>Firstly, to control inflation. <\/li><li>Secondly, it reduces unemployment.<\/li><li>Further, it promote moderate long term interest rate. <\/li><\/ul>\n\n\n\n<figure class=\"wp-block-embed-youtube wp-block-embed is-type-video is-provider-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio\"><div class=\"wp-block-embed__wrapper\">\n<iframe loading=\"lazy\" title=\"What is Monetary Policy?  |  Monetary Policy Explained  |  Overview  |  IB Macroeconomics\" width=\"1170\" height=\"658\" src=\"https:\/\/www.youtube.com\/embed\/gUGxGCW-k7o?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture\" allowfullscreen><\/iframe>\n<\/div><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\">Classification of monetary policy<\/h2>\n\n\n\n<figure class=\"wp-block-image size-large\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" width=\"628\" height=\"407\" src=\"https:\/\/i0.wp.com\/www.goseeko.com\/blog\/wp-content\/uploads\/2021\/06\/image.png?resize=628%2C407&#038;ssl=1\" alt=\"\" class=\"wp-image-2607\"\/><figcaption><br><strong>Figure : Classification on monetary policy<\/strong><\/figcaption><\/figure>\n\n\n\n<h3 class=\"wp-block-heading\">a) Quantitative credit control<\/h3>\n\n\n\n<ul class=\"wp-block-list\" type=\"a\"><li>Different quantitative credit control methods are- <\/li><li><strong>Bank rate:\u00a0<\/strong> Firstly, it is the rate at which commercial banks discounts and rediscounts the commercial bills with the RBI.<\/li><li><strong>Open market operation:<\/strong> Secondly, under this method, the RBI purchase and sells treasury bills in the money market on behalf of the Government to control the short term liquidity of the country.<\/li><li><strong>Variable cash reserve ratio:<\/strong> Further, it is of two types-<\/li><li><strong>Cash reserve ratio:<\/strong> It is the proportion of time and demand liabilities of commercial banks kept with RBI in the cash form.<\/li><li><strong>Statutory liquidity ratio: <\/strong>It is the proportion of time and demand liabilities of commercial banks kept with RBI.  It is in the form of gold, silver, precious metal, government securities etc.<\/li><\/ul>\n\n\n\n<h4 class=\"wp-block-heading\">b) Qualitative methods<\/h4>\n\n\n\n<ul class=\"wp-block-list\" type=\"a\"><li>Different qualitative credit control methods are-<\/li><li><strong>Margin requirements:<\/strong> It is the difference between loan amount and market rate of securities.   <\/li><li><strong>Credit rationing:<\/strong> Under this method, RBI limits the credit to commercial banks depending on their area of lending.<\/li><li><strong>Regulation of consumer credit<\/strong>: The RBI directs the commercial banks to carefully verify the borrowers\u2019 financial background.  <\/li><li>Moral suasion: Lastly, it is request to the commercial banks by the RBI to follow the rules, regulations, policies and directions of RBI.<\/li><\/ul>\n","protected":false},"excerpt":{"rendered":"<p>what is monetary policy?<br \/>\nMonetary policy refers to the actions undertaken by monetary authority of a country to control money supply and achieve sustainable growth.<\/p>\n","protected":false},"author":3,"featured_media":3113,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[27],"tags":[],"class_list":["post-2605","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-commerce"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.3.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Goseeko blog What is monetary policy? 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