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Governor of the Reserve Bank of India (RBI), Shaktikanta Das, has said that periodic shocks to food prices continue to make headline inflation in India susceptible. The Monetary Policy Committee (MPC) maintained its 5.4% inflation estimate for this fiscal year, which is a moderate decrease from 6.7% for 2022–2023.
Reserve Bank of India Governor Shaktikanta Das said India may explore linking their Unified Payments Interface (UPI) with Japan s fast payment system for more efficient and cost-effective cross-border payments. This move follows a successful real-time linkage between UPI and PayNow with Singapore earlier this year.