Apart from increasing the repo rate, today in the results of the monetary review policy, many such announcements have been made which are sure to have a direct impact on us. It is important for you to be updated about these announcements made by RBI.
New Delhi. The Reserve Bank of India has released the results of the monetary review policy on 8 June. RBI Governor Shaktikanta Das has announced to increase the repo rate in the results announced today. Apart from increasing the repo rate, today in the results of the monetary review policy, many such announcements have been made which are sure to have a direct impact on us. It is important for you to be updated about these announcements made by RBI.
Inflation became a cause for concern
Inflation in the country still remains a cause for concern. According to RBI, relief is not expected in this financial year 2022-23 till the first quarter i.e. December. According to the RBI’s estimate, the inflation rate can be 6.7 percent in this financial year. Inflation is expected to be 7.5 percent in the first quarter of this financial year, 7.4 percent in the second quarter, 6.2 percent in the third quarter and 5.8 percent in the fourth quarter.
UPI payment can also be done by credit card
Now you will be able to pay with your credit card through UPI as well. RBI has decided to provide the facility of UPI payment through credit cards for digital transactions. It will be started with Rupay credit card. Later this facility can also be availed through other cards.
GDP rate Improved
According to RBI, there has been an improvement in economic activities in April-May this year. The growth rate of GDP has crossed the level before the pandemic. Manufacturing activities have improved during April-May. Apart from this, the consumption of cement to steel has increased.
