This is expected to give some stability to the credit market, to boost capital expenditure and investments. The current rate hike cycle will help arrest inflation, and boost investment and consumption sentiment.
RBI MPC Meeting June 2023: RBI Governor Shaktikanta Das said the headline inflation is above the target of 4 per cent and expected to remain so during the rest of the year.
The e-RUPI vouchers are pre-paid digital tools that a beneficiary receives on phone in the form of an SMS or QR code. The e-RUPI rides on the Unified Payments Interface (UPI) system of the National Payments Corporation of India (NPCI).
RBI MPC announcements: RuPay also allows tokenisation to allow cards to be tokenised on smartwatches, wearables, IoT-enabled devices, and allowing them to conduct card payments.