01405nam a22001337a 4500 533945 533945 260723b ||||| |||| 00| 0 eng d Iyer, S. Pramila and S. Chandrachud 62039 Legislative framework for transparency in monetary policy: A critical study of India’s laws Economic & Political Weekly 61(28), Jul 11, 2026: p.61-70 How India’s legislative framework embeds transparency in monetary policy is examined, focusing on the Reserve Bank of India’s statutory design. Using the Systematic Legal Diagnostic Framework for Monetary Policy Transparency, the paper evaluates three dimensions—law on paper, law through time, and law in action. Findings reveal that while procedural transparency improved through Monetary Policy Committee reforms, deliberative and oversight transparency remain underdeveloped. Key gaps include absent statutory disclosure mandates, fragmented financial statutes, and weak parliamentary oversight. Drawing on the practices of the Bank of England and the European Central Bank, the paper proposes a unified transparency framework codifying disclosure duties, parliamentary reporting, and crisis communication protocols.- Reproduced https://www.epw.in/journal/2026/28/special-articles/legislative-framework-transparency-monetary-policy.html Economic & Political Weekly AR 0 0 ddc 0 0 409131 IIPA IIPA 2026-07-23 61(28), Jul 11, 2026: p.61-70 AR139387 2026-07-23 AR