It has also slashed its growth forecast for the present fiscal to 7.2 per cent from 7.8 per cent in February.
In a statement after the Monetary Policy Committee's bi-monthly meet, RBI Governor Shaktikanta Das said the real GDP growth is projected at 17.2 per cent in Q1FY23, at 7 per cent in Q2; at 4.3 per cent in Q3 and Q4 at 4.5 per cent.
To further encourage the use of UPI by retail investors, he said it is proposed to enhance the transaction limit for payments through UPI for Retail Direct Scheme and IPO applications from Rs 2 lakh to Rs 5 lakh.
India has potential to grow at a reasonably high pace in the post-pandemic scenario, said Reserve Bank of India Governor Shaktikanta Das.
The decision was taken by the Appointments Committee of Cabinet headed by Prime Minister Narendra Modi.
To measure the extent of financial inclusion in the country, it has been decided to construct and periodically publish a financial inclusion index (FII).
Mumbai: Concerned over fresh COVID-19 wave and elevated food inflation, Reserve Bank of India on Wednesday decided to keep benchmark interest rate unchanged at 4 per cent but maintained an…
New Delhi: India hosted a meeting of BRICS Finance Ministers and Central Bank Governors virtually on Tuesday. The meeting, jointly chaired by Finance Minister Nirmala Sitharaman and Reserve Bank of…
New Delhi: Reserve Bank of India Governor Shaktikanta Das on Thursday said that the central bank has flagged major concerns over cryptocurrency to the government. Speaking at the Times Network India Economic Conclave, the Governor said that digital currency is one thing and the cryptocurrencies which are being traded in the market is something else. […]
Mumbai: Reserve Bank of India (RBI) on Friday decided to leave benchmark interest rate unchanged at 4 per cent but maintained an accommodative stance, implying rate cuts in the future if need arises to support the economy hit by the COVID-19 pandemic. The benchmark repurchase (repo) rate has been left unchanged at 4 per cent, […]
Mumbai: Concerned over elevated inflation, Reserve Bank of India on Friday decided to leave benchmark interest rate unchanged at 4 per cent but maintained an accommodative stance, implying more rate cuts in the future if need arises to support the economy hit by the COVID-19 pandemic. The benchmark repurchase (repo) rate has been left unchanged […]
Mumbai: The Indian economy has exhibited stronger pick up in momentum of recovery than expected, said Reserve Bank of India Governor Shaktikanta Das on Thursday. Addressing the 4th Annual Day of Foreign Exchange Dealers’ Association of India (FEDAI), he cited that a multi-speed normalisation of activity in Q2FY21, after the country witnessed a sharp contraction […]
Mumbai: Reserve Bank of India (RBI) Governor Shaktikanta Das on Sunday said that he has tested positive of novel coronavirus infection. Das, however, said that he is asymptomatic and is feeling alright. #BreakingNews: RBI Governor Shaktikanta Das tests positive for #Covid19; says he is asymptomatic (PTI) pic.twitter.com/Rj4ySJrhqN — OTV (@otvnews) October 25, 2020 “I have […]
New Delhi: As the economy reels under the pandemic and post lockdown woes, Reserve Bank of India (RBI) Governor Shaktikanta Das is of the view that extreme risk aversion by financial institutions will have adverse outcomes for all. Noting that India’s financial system remains sound, Das, in his foreword to the RBI‘s latest Financial Stability […]
Mumbai: India’s economy is showing signs of getting back to normalcy, Reserve Bank of India Governor Shaktikanta Das said on Saturday. In a keynote address at the 7th SBI Banking and Economics Conclave, Das noted that medium term outlook still remains uncertain. “Despite the substantial impact of pandemic in our daily lives, the financial system […]
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