Mentor’s Comments-
- Briefly define monetary policy.
- Mention the instruments of monetary policy available with the RBI.
- Discuss how the RBI not only acts as a banker to the commercial banks but also to the government.
- Conclude accordingly.
No. 1 UPSC IAS Platform for preparation
Mentor’s Comments-
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Abhishek
Parts of the answer are missing. You have just mention the qualitative elements of monetary policy.
Qualitative aspects such as credit rationing, moral suasion, change in margin requirement etc are not mentioned.
Also, you need to explain briefly how it is a banker to the government (entrusted with the management of remittance, exchange, and banking transactions in India including floating of loans and managing them, and providing Ways and Means Advances to the Governments)
Qualitative aspects mentioned are fine.
Intro-conclusion is decent.
Keep practicing. 🙂
thank u sir. yes I also observed that I missed that part .
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Yogesh
In introduction, you have talked about easy monetary policy but the monetary policy can be both easy and tight, just mention the goals of monetary policy and move on.
Quantitative instruments of monetary policy are mentioned. It will be good if you can give a brief explanation of some of these.
Qualitative aspects such as credit rationing, moral suasion, change in margin requirement etc are not mentioned.
In role as a banker to the government you can add that it is entrusted with the management of remittance, exchange and providing Ways and Means Advances to the Governments other than loans and advances.
Conclusion is fine.
Keep practicing. 🙂
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Pallab
Decent attempt but first part of the question could be addressed a bit better. Introduction stating objectives of monetary policy is good.
Elaborate a bit on the instruments of monetary policy that you have mentioned. Short explanations would do.
Banker to the government part is decently written.
Conclusion can be kept short.
Keep practicing. 🙂
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Rao
Good attempt. Content is decent enough.
Presentation is also good.
Introduction stating objectives of monetary policy is good.
Tools of monetary policy have been mentioned. Repo, reverse repo etc could be explained a bit in shorthand.
In qualitative tools you could add things like credit rationing, change in margin requirement.
Role as a banker is well explained. In role as a banker to the government you can add that it is entrusted with the management of remittance, exchange etc
Conclusion is fine.
Keep practicing. 🙂
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Alankrit
Whatever you have written is well written, but, you have missed certain things.
In introduction, you could begin with stating the objectives of monetary policy- maintaining inflation, stable growth etc
Qualitative aspects such as credit rationing, moral suasion, change in margin requirement etc are not mentioned.
Quantitative aspects are well explained.
Role as banker to the government is also good. 1-2 points on role as a banker to commercial banks could be also explained(LAF, MSF etc).
Conclusion is fine.
Keep practicing. 🙂
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Megha
Decent attempt.
Introduction is good.
Next part could be divided into quantitative and qualitative instruments.
In quantitative instruments, other than CRR, SLR and OMO, you could also talk about repo, reverse repo etc
Similarly, in qualitative aspects you can talk about moral suasion, change in margin requirements etc. Credit rationing point is good.
Role as a banker to both commercial banks and government is well written. In first part you could mention key terms like LAF, MSF etc
A concluding statement could be added.
Keep practicing. 🙂
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