News refers to challenge before RBI — [1] To make monetary transmission effective–the first step is to ensure that weighted average call rate [WACR] –which is also the operating target of monetary policy–aligns with the policy repo rate which is currently at 5.25%- But WACR has been languishing ar 5%– upper end of the corridor is Marginal Standing Facility– MSF at 5.5%–This is because of the huge liquidity surplus –Net durable liquidity as of 31.08.26 stood at 10.66 trillion and is 7.4 trillion on 16.9.26 mainly due to corporate advance tax outflows —