RBI has constituted an expert committee to examine its current monetary policy framework. An RBI release said that the committee will recommend measures to revise and strengthen the monetary policy framework, making it transparent and predictable. It will review the organisational structure, operating framework and instruments of monetary policy with a view to ensure compatibility with macro-economic and financial stability, as well as market development. It will also examine the regulatory, fiscal and other impediments to monetary policy transmission and recommend measures to improve the same across financial market segments and to the broader economy.