RBI Monetary Policy Committee Updates

RBI Monetary Policy Committee Updates

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

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

RBI retains GDP growth at 7.2%

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

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

CPI inflation forecast  for FY23 raised to 6.7 percent

FY23 GDP growth forecast retained at 7.2%:

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