CDMs or cash deposit machines lets you deposit cash directly into the bank account using the debit card, saving you the hassle of visiting your bank. With RBI letting UPI do the task, it brings in a whole new ease for your banking.
RBI MPC policy live updates: The fact is that the RBI Governor Shaktikanta Das and his colleagues at MPC do not have any room for any major change in the rate approach this time compared with the last policy review in October. That’s because the broader inflation pattern the most watched factor by the MPC hasn’t changed much since then.
The Reserve Bank of India (RBI) has adjusted liquidity tools, the Standing Deposit Facility (SDF) and Marginal Standing Facility (MSF), allowing reversal of facilities on weekends and holidays from December 30. The move aims to improve liquidity management amid high utilization by banks. The RBI maintained the repo rate at 6.5% Governor Shaktikanta Das mentioned that deficit liquidity was due to festive season expenses but anticipates easing conditions with increased government spending. The RBI remains agile in liquidity management amid evolving economic dynamics, the governor said.
Between FY21 and FY23, the composition of secured and unsecured advances has changed during this period, with unsecured retail loans increasing from 22.9 percent to 25.2 per cent and secured loans declining from 77.1 percent to 74.8 percent
While tomato prices increase almost every June-July, potato prices increase after every two years and onion prices rise after every 2.5 years. Given the seasonal nature of price shocks and the fact that these spikes fizzle out within a few months, the RBI has mostly refrained from making its decision while looking at the vegetable basket.