RBI Functions and Autonomy — Mains Questions

Analyze the concept of 'constrained autonomy' in the context of RBI's functioning. How does this model balance the need for central bank independence with democratic accountability?

Examine the role of Monetary Policy Committee in enhancing RBI's autonomy. What are the limitations of this institutional mechanism?

Critically evaluate the tensions between RBI's developmental role and its regulatory autonomy. How can these conflicting objectives be reconciled?