Reserve Bank of India Governor Raghuram Rajan on Tuesday unveiled his five-point plan to overhaul the RBI's developmental measures over the next few quarters. The first of the "five pillars" of the plan is clarifying and strengthening the monetary policy framework. "Action on the monetary policy framework will follow the submission of the Urjit Patel Committee report. A number of measures to strengthen bank structures and financial markets have already been announced, and more will follow as they are worked out. The strategy to expand financial inclusion will be formed by the Nachiket Mor Committee report, though significant efforts to explore the use of technology are already under way," Rajan said.
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