The Reserve Bank has recently provided sweeteners to bank customers. The key decision was made. RTGS has announced that it will be making RTGS services available throughout the day for money transfer.
RBI Governor Shaktikant Das recently offered sweets to bank customers. He said the RTGS system would be available throughout the day for fund transfer. The facility will be available from December. Must send at least Rs 2 lakh through RTGS. Currently the RTGC policy is to send money only during banking hours.
Now the Reserve Bank of India RBI has taken another crucial decision. The policy review announced that key interest rates would remain unchanged. All the six members of the MPC committee, headed by RBI Governor Shakti Kant Das, have unanimously favored keeping interest rates stable.
Also Read: Money Transfer: Money Transfer? RBI says good news
With the RBI’s latest decision, the repo rate has remained stable at 4 per cent. Also the reverse repo rate remains stable at 3.35 per cent. The RBI has cut the repo rate by 115 basis points so far this year. However, with the RBI decision, there is a chance that those who hide money in banks will get some relief. There may not be a reduction in interest rates.
This is the first MCP meeting after the central government appointed three economists (Jayant Verma, Ashima Goyal and Shashanka Bhinde). Also the six-member MPC meeting is scheduled to take place from September 29 to October 1. However it was postponed. The main reason for this is the delay in the appointment of independent members.
The Reserve Bank of India (RBI) has kept key interest rates unchanged at its policy meeting in August. The Reserve Bank of India has been cutting the repo rate to 250 basis points since February 2019. This means that the repo rate has come down by 2.5 per cent during this period.
We have taken all measures to ensure that the information provided in this article and on our social media platform is credible, verified and sourced from other Big media Houses. For any feedback or complaint, reach out to us at businessleaguein@gmail.com
