Informative Blogs & News
RBI Monetary Policy Repo Rate and Upward GDP Revision:
RBI Governor Shaktikanta Das recently unveiled the Monetary Policy Committee’s (MPC) decisions, maintaining the repo rate at 6.5 percent in line with expectations. The decision, the fifth consecutive hold, comes against a backdrop of concerns over higher inflation, particularly driven by unpredictable food prices.
RBI Boosts UPI Transaction Limit for Hospitals and Educational Institutions: In a significant move, the Reserve Bank of India (RBI) has recently proposed a notable hike in the UPI transaction limit specifically catering to transactions made towards hospitals and educational institutions. This initiative aims to streamline financial transactions in these crucial sectors, marking a substantial shift in the existing transaction limits.
Rs 2000 Note News: The Reserve Bank of India (RBI) has provided an update on the status of the Rs 2,000 banknotes that were withdrawn earlier this year, revealing that 97.26% of these notes have returned to the banking system..
On May 19, the RBI announced the withdrawal of 2000 rupees note from circulation. More than 97 per cent of the ₹ 2,000 banknotes in circulation as of May 19, 2023, have since been returned.