EPW Research Foundation Clueless against Emerging Recession The RBI's conventional approach, reiterated in its latest Annual Report, of tinkering with reserve requirements and signalling monetary policy changes through open market operations may achieve the objective, to which the RBI evidently and attaches the highest importance, of establishing closer links among the money, capital, gilt foreign exchange markets, but it will certainly not help stimulate the dynamic role of credit in the development of the economy.