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RBI develops short-term liquidity forecasting model

The Reserve Bank of India has developed the generic form of a model for liquidity assessment to evaluate the short-term interaction of financial markets and monetary policy measures.

The performance of the model has been tested and it appears to be satisfactory although further refinements may be warranted.

Efforts will be devoted towards the improvement of the model on an ongoing basis depending on the advice received from the advisory group and other comments and suggestions received in this regard from academics practitioners and market players.

The model has been placed on the Reserve Bank's website www-rbi.org.in for wider dissemination and public debate.

As announced in the Monetary and Credit Policy for year 2002-03, the model has been developed under the guidance of an expert advisory group, comprising of professors D M Nachane and M J M Rao, University of Mumbai, Vikas Chitre, Gokhale Institue of Politics and Economics, Mihir Rakshit, Investment Information and Credit Rating Agency Ltd, Indira Rajaraman, Institute of Economic Growth and K Krishnamurty, Administrative Staff College of India.

UNI

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