On Wednesday, Reserve Bank of India Governor Shaktikanta Das announced the results of the monetary policy meeting, increasing the repo rate by 0.50 percent. Thereafter, the policy rates increased from 4.40 percent to 4.90 percent. Along with this, Das has also made big announcements regarding credit cards and cooperative banks.
Rupay credit card will be linked first
RBI has proposed to allow the linking of credit cards with the Unified Payments Interface (UPI) platform. Governor Das said that initially the RuPay credit card will be linked to the UPI platform, which will provide additional convenience to the users and expand the scope of digital payments. It is worth noting that at present, UPI facilitates transactions through debit cards of users by linking savings or current accounts.
Strong growth in UPI transactions
UPI has become the most inclusive mode of payment in India with over 260 million unique users and 50 million merchants on the platform. UPI's progress in recent years has been unparalleled. Many other countries are engaged in adopting similar methods to ours. It is worth noting that the number of payments through UPI is continuously increasing in the country. It saw a significant increase in the Corona period, which is still going on.
Co-operative banks will be able to lend more
To deepen credit flow to the housing sector, the RBI today made announcements for cooperative banks. Governor Shaktikanta Das while announcing the monetary policy said that cooperative banks will now be able to lend more for personal home loans. This will ensure better credit flow to the residential housing sector. Das said that this step has been taken because of the rising prices of residential accommodation. He said that the limits for individual housing loans given by urban and rural cooperative banks are being revised by more than 100 percent because of the rise in house prices.
Also Read: RBI again increased the repo rate by 50 basis points, home, and car loans will be expensive
Partygate Scandal: British PM Boris Johnson won the no-confidence motion, got the support of 211 MPs
British Prime Minister Boris Johnson, surrounded by the Partygate scandal, has won the trust vote. Of the 359 lawmakers in the ruling Conservative Party, 211 voted in favor of him, while 148 opposed.
IND vs NZ: These mistakes overshadowed India in Auckland ODI, know what were the major reasons for the defeat
India vs New Zealand 1st ODI Auckland: India had to face defeat by 7 wickets in the first match of the ODI series against New Zealand. Batting first, Team India gave a target of 307 runs. In response,
Ira Nupur Wedding: Aamir Khan's daughter Ayra chose no gift policy, and said - to donate to her NGO instead of a gift
Aamir Khan's beloved daughter Ayra Khan is going to tie the knot with her boyfriend Nupur Shikre. Ayra will become a bride tomorrow i.e. on January 3, 2024. The couple's wedding preparations are going
Betul Road Accident: Tragic accident in Betul, Madhya Pradesh, a car collided with a bus; 11 dead
11 people died in a tragic accident in the Jhallar area of Betul district of Madhya Pradesh on Friday morning. The accident happened when a speeding Tavera car collided with a bus. In this
Asia Cup: Former spinner Muttiah Muralitharan's taunt on India's head coach, said- Dravid great batsman, but my ball...
Sri Lankan great spinner Muttiah Muralitharan says current Indian coach Rahul Dravid is included in the list of great batsmen who could not find a way to read his ball. Muralitharan said during an
GDP: Government will release October-December GDP figures today, growth rate may remain up to 5.5 percent in third quarter
The country's economic growth may come down to 5.5 percent in the third quarter of the current financial year i.e. October-December due to weak demand amid an aggressive increase in the policy rate
Corona Pandemic: More than 1.5 million TB patients from 45 countries did not get treatment amid the pandemic, the study revealed
After the knock of the corona epidemic in the year 2020, TB patients suffered a lot due to the lockdown in the country. Due to this, more than 1.5 million TB patients from 45 countries have not
PM Modi said to Putin, 'This is not the time for war', America welcomed; Said- This is a principled statement of India
Recently, PM Modi and Russian President Vladimir Putin met at the SCO meeting. In this meeting, there were many important issues including the Ukraine war between the top leaders of both countries. A
Ind Vs Eng Test: Rohit's platoon made this strategy against England in Ranchi, the team batting first will get the advantage.
In the fourth Test match to be played between India and England from February 23 at JSCA Stadium, the team batting first will have the upper hand. That means the team that wins the toss will not
Delhi Murder Case: On the third day of marriage, the truth of the murder of the girlfriend was told to the wife, who said- 'You go to your home
Nikki Yadav Murder Case: When there was no contact with daughter Nikki for two days, father Sunil went out in search of her. He also reached the house of the accused Sahil. When pressure was made on