Friday the Reserve Bank of India (RBI) has announced its credit policy. Meanwhile, RBI Governor Shaktikanta Das has made many important announcements. One of these is the change in the opening hours of the financial markets.
During the Covid pandemic, the RBI had reduced the opening hours of the financial markets during the day, which is now being normalized again. have taken. This decision of RBI will be applicable to those financial institutions, which RBI deals with. Apart from this, under another decision, now people will get the facility to withdraw money without ATM card. UPI will be used for this. Let us know about this completely.
Now banks will open from 9 am
RBI has friday announced that financial institutions will open from 9 am on April 18, 2022. There is no change in the time of closure of the financial institution. Due to this, now people will get a chance to take advantage of the services for a longer time in the day. During the Kovid epidemic, the working hours of financial institutions in the country were reduced.
This announcement was made with the announcement of monetary policy
At the same time, earlier this morning RBI Governor Shaktikanta Das announced the monetary policy. Like many times in the past, this time also RBI has not made any change in the repo rate. Thus, this time the repo rate will remain at 4 percent. At the same time, the reverse repo rate has been increased by 40 basis points to 3.75 percent. The repo rate has remained constant at 4 per cent since 22 May 2020. Apart from this, the cash reserve ratio has also been retained at 4 per cent. Reserve Bank This 3-day meeting of the bi-monthly Monetary Policy Committee began on 6 April. The announcement of monetary policy has been announced by RBI Governor Shaktikanta Das.
Now these are the estimates of RBI
- GDP growth forecast for the current financial year reduced from 7.8 percent to 7.2 percent
- GDP growth forecast in the second quarter of the current financial year reduced from 7 percent to 6.2 percent
- GDP growth forecast in the third quarter of the current financial year reduced from 4.3 percent to 4.1 percent
- GDP growth forecast in the fourth quarter of the current financial year reduced from 4.5 percent to 4 percent
Note: The RBI has estimated the GDP growth by taking 100 dollars per barrel of crude oil as the base.
Transaction facility from cardless ATM soon
RBI is soon going to allow customers to withdraw money from banks and their ATMs using UPI. RBI is going to do this to increase cardless i.e. cardless transactions. To do this, the facility of withdrawing money from all banks and their ATMs will be made available through UPI. RBI says that this will also stop fraud related to ATMs. RBI Governor Shaktikanta Das has said that cardless transactions will make transactions easier and cardless transactions will also help in preventing card cloning, card theft and many other frauds.
