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    HomeBusinessRBI monetary policy highlights

    RBI monetary policy highlights

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    Money & Banking

    PTI | Mumbai | Updated on: Jun 08, 2022

    Following are the highlights of RBI’s third monetary policy review of the current financial year announced by Governor Shaktikanta Das on Wednesday

    Highlights

    Key lending rate (repo) raised by 50 basis points to 4.9%; 2nd increase in 5 weeks

    Repo rate still remains below pre-pandemic level

    To focus on withdrawal of accommodative policy to tame inflation and support growth

    Inflation projection for current fiscal raised to 6.7% from 5.7%

    Edible oil prices remain under pressure on adverse global supply conditions, notwithstanding some recent correction

    Tense global situation imparts considerable uncertainty to domestic inflation outlook

    GDP growth forecast retained at 7.2% for current financial year

    Economic activity gathering strength; normal monsoon to boost rural consumption

    Credit cards to be linked with UPI; RuPay credit cards to be linked first

    Lending limits for housing loans by co-op banks doubled

    Rural co-op banks permitted to lend to commercial Real Estate – Residential Housing (CRE-RH) sector

    Urban Co-op banks allowed to offer door-step banking

    e-mandates on cards for recurring payments enhanced to ₹15,000 from ₹5,000.

    Published on June 08, 2022

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