The study looked at how the Reserve Bank of India uses interest rates to balance price stability and economic growth from 1996 to 2013. They found that the bank mainly focuses on promoting growth when setting interest rates. Inflation control and open economy factors also play a role, but to a lesser extent. The study showed that the fiscal parameter doesn't have much impact on the bank's interest rate decisions. Overall, the research suggests that the bank's monetary policy decisions are aimed at boosting economic growth.