Status on Indian Economy: RBI Governor Shaktikanta Das said that the Indian economy is on the right track and India is contributing 15 per cent to global growth.
Announcements related to UPI: Offline payments will be done through UPI and UPI Lite transaction limit will be increased from Rs 200 to Rs 500.
Rs 2000 note in focus: The Reserve Bank has taken Rs 2000 notes out of circulation and this has led to an increase in surplus liquidity.
Growth and Economy Expected: GDP growth is expected to be 6.5 per cent in FY 23-24, with 8 per cent in the first quarter and 5.7 per cent in the fourth quarter.
Important Information:
- Repo rate: 6.5 percent
- Indian economy: 15% contribution to global growth
- UPI Lite transaction limit: Rs 500
- Rs 2000 notes: 88% have returned
- GDP growth for FY 23-24: 6.5 percent
- Real GDP growth in the first quarter of the financial year: 8 percent
Let us tell you that last week, the data of Rs 2000 notes returned to all the banks of the country was released by the RBI. In this, it was told that by July 31, 2023, about 88 percent of the 2000 rupee notes present in the market have been returned. Their total value is about Rs 3.14 lakh crore. On May 19, the central bank announced the withdrawal of the country’s largest currency note from circulation and gave people time till September 30, 2023, to return it to the banks.
