Which of the following is NOT a monetary policy instrument of RBI?

Correct option is A

 The correct answer is (a) Government Spending.
Government spending is not a monetary policy instrument of the Reserve Bank of India (RBI). It is instead a fiscal policy tool used by the government to influence the economy by adjusting its levels of spending and tax rates. Fiscal policy is managed by the government's finance ministry, while monetary policy, aimed at controlling the money supply and interest rates, is under the purveyorship of the central bank, the RBI.
The RBI uses various monetary policy instruments, such as:
 Bank Rate: The rate at which the central bank lends money to commercial banks.
 Open Market Operations (OMOs): These involve the buying and selling of government securities in the open market to regulate liquidity in the economy.
 Cash Reserve Ratio (CRR): The percentage of a bank's total deposits that must be maintained as reserves with the central bank.
These tools help the RBI manage inflation and ensure economic stability.