HomeNationHere's the RBI monetary policy highlights

Here’s the RBI monetary policy highlights

@the_news_21

Following are the highlights of RBI’s third monetary policy review of the current financial year announced by Governor Shaktikanta Das on Wednesday

  • Key lending rate (repo) raised by 50 basis points to 4.9 per cent; 2nd increase in 5 weeks
  • Repo rate still remains below pre-pandemic level
  • To focus on withdrawal of accommodative policy to tame inflation and support growth
  • Inflation projection for current fiscal raised to 6.7 pc from 5.7 pc
  • Edible oil prices remain under pressure on adverse global supply conditions, notwithstanding some recent correction
  • Tense global situation imparts considerable uncertainty to domestic inflation outlook
  • GDP growth forecast retained at 7.2 pc for current financial year
  • Economic activity gathering strength; normal monsoon to boost rural consumption
  • Credit cards to be linked with UPI; RuPay credit cards to be linked first
  • Lending limits for housing loans by co-op banks doubled
  • Rural co-op banks permitted to lend to commercial Real Estate – Residential Housing (CRE-RH) sector
  • Urban Co-op banks allowed to offer door-step banking
  • e-mandates on cards for recurring payments enhanced to Rs 15,000 from Rs 5,000.

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