Report on Currency and Finance (RCF) for the year 2020-21

Last updated: 02 March 2021

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The Reserve Bank of India has released the Report on Currency and Finance (RCF) for 2020-21, reviving a publication last issued in 2014. This year's report focuses on "Reviewing the Monetary Policy Framework" and examines the period from October 2016 to March 2020. It highlights the success of India's flexible inflation targeting (FIT) framework, noting that the current target of 4% with a +/-2% tolerance band is appropriate for the next five years.

Reserve Bank of India Date : Feb 26, 2021 Today, theReport on Currency and Finance (RCF) for the year 2020-21was released by the RBI. First published in 1937, the RCF adopted a theme-based approach from 1998-99. After a hiatus between 2014 and 2019, the Report has been revived with this release. The theme of the Report is Reviewing the Monetary Policy Framework which assumes topical relevance in the context of the review of the inflation target by March 2021 against the backdrop of structu

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FAQ :

The main theme of the RCF for 2020-21 is "Reviewing the Monetary Policy Framework".

The report covers the period from October 2016 to March 2020, excluding the COVID-19 pandemic period.

During the period under review, headline CPI inflation averaged 3.9 per cent in India.

The report suggests that an inflation target of 4 per cent with a +/-2 per cent tolerance band is appropriate for India for the next five years.

No, the contents, findings, views, and conclusions of the report are entirely those of the contributors and do not represent the views of the Reserve Bank of India.

The Report on Currency and Finance was first published in 1937.

Notification No : PR : 2020-2021/1159
Source : https://www.rbi.org.in/Scripts/BS_PressReleaseDisplay.aspx?prid=51187

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