RBI Monetary Policy Committee Updates

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RBI increased the repo rate by 50 basis points to 4.90%

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RBI monetary policy committee's three-day meeting was held from 6 June to 8 June.

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RBI retains GDP growth at 7.2%

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Limits on individual home loans given by urban and rural co-operative banks are being revised

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Credit cards, starting with RuPay credit cards, can now be linked to UPI.

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CPI inflation forecast for FY23 raised to 6.7 percent

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FY23 GDP growth forecast retained at 7.2%:

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The limit on recurring e-payments is now raised to Rs 15,000 from Rs 5,000 to further facilitate transactions such as subscriptions.

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