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RBI

->The Reserve Bank of India (RBI) Governor, Raghuram Rajan, on Tuesday, said that the central bank had adopted the new Consumer Price Index (CPI) (combined) as the key measure of inflation.

->Earlier, RBI had given more weightage to Wholesale Price Index (WPI) than CPI as the key measure of inflation for all policy purposes.

->Some recommendations of Urjit R. Patel Committee report have been implemented, including adoption of the new CPI (combined) as the key measure of inflation.

->This also includes explicit recognition of the glide path for disinflation, transition to a bi-monthly monetary policy cycle, progressive reduction in access to overnight liquidity at the fixed repo rate, and a corresponding increase in access to liquidity through term repos, and introduction of longer-tenor term repos as well as, going forward, term reverse repos.

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