With reference to Indian economy, consider the following:<br/>1. Bank rate<br/>2. Open market operations<br/>3. Public debt<br/>4. Public revenue<br/><br/>Which of the above is/are component/components of Monetary Policy?

1. Bank rate — It is a classic monetary policy instrument used by the RBI to influence credit conditions and money supply. Verdict: Correct.

2. Open market operations — RBI’s buying/selling of government securities is a standard monetary policy tool to manage liquidity. Verdict: Correct.

3. Public debt — It relates mainly to fiscal policy/government borrowing, not a component of monetary policy. Verdict: Incorrect.

4. Public revenue — It concerns government income/taxation, which is part of fiscal policy, not monetary policy. Verdict: Incorrect.

Hence, the components of monetary policy are 1 and 2 only.