The Reserve Bank of India (RBI) has decided to keep the repo rate unchanged at 6.5%, Governor Shaktikanta Das announced on Friday, December 6, 2024. This makes it the 11th consecutive time the repo rate has remained unchanged at 6.5%. Meanwhile, the RBI cut the cash reserve ratio (CRR) by 50 basis points to 4%. This comes at a time… Continue reading "RBI keeps repo rate unchanged at 6.5%"
The Reserve Bank of India’s Monetary Policy Committee (MPC) kept the repo rate unchanged at 6.5 per cent for the eight consecutive times. RBI India’s GDP (gross domestic growth) projection to 7.2 per cent for FY 25, up from 7 per cent that it had expected earlier. Consequently, the standing deposit facility (SDF) rate remains unchanged at 6.25 per cent… Continue reading "RBI keeps rates unchanged for eighth consecutive time"
The RBI on Wednesday mandated that digital loans must be credited directly in the bank accounts of borrowers and not through any third party, as it put in place strict norms to curb rising malpractice in digital lending space. Besides, the Reserve Bank of India said digital lending entities and not the borrowers should pay fees or charges payable to… Continue reading "RBI issues new norms for digital lending"