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Daily Archives: October 8, 2021

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Transaction Limit in IMPS enhanced to ₹5 lakh

Information TechnologyBy Surendra NaikOctober 8, 2021

In the Statement on Developmental and Regulatory Policies on October 8, 2021, the Reserve Bank of India announced that the transaction limit of Immediate Payment Service (IMPS) to be increased to ₹5 lakh. “In view of the importance of the IMPS system in the processing of domestic payment transactions, it is proposed to increase the…

No repo rate cut for 8th time

Reserve Bank Functions and newsBy Surendra NaikOctober 8, 2021

The monetary policy committee of the Reserve Bank of India today unanimously decided to keep the repo rate unchanged for the eighth consecutive time.  The committee also lowered the FY22 inflation forecast to 5.3 per cent from an earlier estimate of 5.7 per cent.  MPC also decided to continue with its accommodative stance as long…

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