RBI has brought good news to the bank customers. A key decision has been taken. UPI has made an announcement that will bring relief to those availing services.
RBI Repo Rate: The Reserve Bank of India (RBI), which continues to be the central bank of the country, has provided the latest good news. The bank has made an announcement that will bring relief to the customers. Because of thisUPI(UPI) users can claim to benefit. That isPhonePeThose using apps like (Phonepe), Google Pay, Paytm, Bima UPI will be benefited. So what decision has RBI taken? What announcement did the bank make to give relief to the customers? Let us now know the points.
RBI recently made a key announcement on UPI Lite services. UPI Lite transaction limit increased. If we look at it till now.. they are conducting transactions up to Rs.200 through UPI Lite. But now this limit is Rs. 500 reached. That means transactions worth up to Rs.500 can be done through UPI Lite at a time. Transactions can be completed without a PIN through UPI Lite.
On the other handRBI Another important decision was also taken. It made an important announcement regarding interest rates. Repo rate, the key policy rate, was kept steady. It is noteworthy that this is the third time in a row that the RBI has kept key policy rates steady. The MPC Committee headed by RBI Governor Shaktikant Das kept the repo rate steady in the latest policy review. As a result, the repo rate remains at 6.5 percent.
The RBI has increased the repo rate for the last time in the month of February 2023. Then the repo rate was increased by 25 basis points. Then the repo rate remained stable in the months of April and June. Again, RBI has kept the repo rate constant in the month of August as well. Many expected the repo rate to remain unchanged. In line with everyone’s expectations, the RBI also kept the repo rate steady. Also, the CRR has also remained stable at 4.5 percent. RBI has estimated that the GDP rate for the current financial year may be 6.5 percent.
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