The MPCs growth-inflation forecasts put forth a merry growth story for India. Indias GDP is seen to clock a 7.0% growth, 0.5% higher than October forecasts. This upward revision comes in the backdrop of improved growth prospects that the MPC sees persisting through the next one-year
The Reserve Bank of India (RBI) has increased the transaction limit for Unified Payments Interface (UPI) payments to hospitals and educational institutions to Rs 5 lakh from Rs 1 lakh per transaction.
Gold loan borrowers can avail gold loans of up to Rs 4 lakh under bullet repayment option from certain urban co-operative banks, says RBI Governor Shaktikanta Das while announcing the decisions of the RBI Monetary Policy Committee on October 6, 2023. This move aims to make gold loans more flexible to certain borrowers who prefer bullet payment option to repay the loan. In the bullet repayment option, borrowers need to pay the entire principal and interest amount at the end of the loan tenure.