⭕RBI Monetary Policy Statement⭕
🎲Repo Rate - 4.0 percent
🎲Reverse Repo Rate - 3.35 percent
🎲Bank Rate - 4.25 percent
🎲Mariginal Stabding Facility - 4.25 percent
🔰GDP growth projection For 2021 - 22 At 9.5 percent
🔰GDP growth in Q1:2021-22 at 20.1
🔰The CPI inflation is projected at 5.3 percent for 2021-22
⭕Additional measures announced by RBI⭕
🔺Introduction of On Tap Special Long-Term Repo Operations (SLTRO) for Small Finance Banks (SFBs)
🔹 The three-year-long SLTRO of Rs 10,000 crore at the repo rate has been introduced for Small Finance Banks (SFBs) in May 2021. The facility will be available till October 31, 2021.
The facility has been extended till December 31, 2021
🔺Introduction of Retail Digital Payment Solutions in Offline Mode
🔹The scheme was announced in August 2020 to test technologies that enable digital payments even in remote places where internet connectivity is either absent or barely available.
With the encouraging experience gained from the pilot tests, it is proposed to introduce a framework for retail digital payments in offline mode across the country. This is expected to further expand the reach of digital payments across India.
🔺Enhancing Transaction Limit in IMPS to ₹5 lakh
🔹The RBI has proposed to increase the per-transaction limit of Immediate Payment Service from Rs 2 lakh to Rs 5 lakh.
🔺Geo-Tagging of Payment System Touch Points
🔹The system has been proposed to be introduced to leverage geo-tagging technology for capturing exact location information on all existing and new PA infrastructure namely Point of Sale (PoS) terminals, Quick Response (QR) Codes. This will complement the Payment Infrastructure Development Fund (PIDF) framework of the Reserve Bank in ensuring wider geographical deployment of PA infrastructure.
🔺Regulatory Sandbox
🔹RBI's Regulatory Sandbox (RS) has so far introduced three cohorts on ‘Retail Payments’; ‘Cross Border Payments’; and ‘MSME Lending’. To provide further impetus to the fintech eco-system, a fourth cohort on ‘Prevention and Mitigation of financial frauds’ is being announced.
🔺Review of Ways and Means Advances (WMA) Limits & Relaxation in Overdraft (OD) Facility
🔹RBI has decided to continue with the interim enhanced WMA limits of ₹51,560 crore for States/UTs for a further period of six months up to March 31, 2022. It has also been decided to continue the enhancement of a maximum number of days of overdraft (OD) in a quarter from 36 to 50 days and the number of consecutive days of OD from 14 to 21 days, up to March 31, 2022.
🔺Internal Ombudsman for NBFCs
🔹RBI has decided to introduce the Internal Ombudsman Scheme (IOS) for certain categories of NBFCs having higher customer interface to strengthen the internal grievance redress mechanism of NBFCs.
The next meeting of the Monetary Policy Committee is scheduled from December 6 to 8, 2021.
⚫Source: RBI
🎲Repo Rate - 4.0 percent
🎲Reverse Repo Rate - 3.35 percent
🎲Bank Rate - 4.25 percent
🎲Mariginal Stabding Facility - 4.25 percent
🔰GDP growth projection For 2021 - 22 At 9.5 percent
🔰GDP growth in Q1:2021-22 at 20.1
🔰The CPI inflation is projected at 5.3 percent for 2021-22
⭕Additional measures announced by RBI⭕
🔺Introduction of On Tap Special Long-Term Repo Operations (SLTRO) for Small Finance Banks (SFBs)
🔹 The three-year-long SLTRO of Rs 10,000 crore at the repo rate has been introduced for Small Finance Banks (SFBs) in May 2021. The facility will be available till October 31, 2021.
The facility has been extended till December 31, 2021
🔺Introduction of Retail Digital Payment Solutions in Offline Mode
🔹The scheme was announced in August 2020 to test technologies that enable digital payments even in remote places where internet connectivity is either absent or barely available.
With the encouraging experience gained from the pilot tests, it is proposed to introduce a framework for retail digital payments in offline mode across the country. This is expected to further expand the reach of digital payments across India.
🔺Enhancing Transaction Limit in IMPS to ₹5 lakh
🔹The RBI has proposed to increase the per-transaction limit of Immediate Payment Service from Rs 2 lakh to Rs 5 lakh.
🔺Geo-Tagging of Payment System Touch Points
🔹The system has been proposed to be introduced to leverage geo-tagging technology for capturing exact location information on all existing and new PA infrastructure namely Point of Sale (PoS) terminals, Quick Response (QR) Codes. This will complement the Payment Infrastructure Development Fund (PIDF) framework of the Reserve Bank in ensuring wider geographical deployment of PA infrastructure.
🔺Regulatory Sandbox
🔹RBI's Regulatory Sandbox (RS) has so far introduced three cohorts on ‘Retail Payments’; ‘Cross Border Payments’; and ‘MSME Lending’. To provide further impetus to the fintech eco-system, a fourth cohort on ‘Prevention and Mitigation of financial frauds’ is being announced.
🔺Review of Ways and Means Advances (WMA) Limits & Relaxation in Overdraft (OD) Facility
🔹RBI has decided to continue with the interim enhanced WMA limits of ₹51,560 crore for States/UTs for a further period of six months up to March 31, 2022. It has also been decided to continue the enhancement of a maximum number of days of overdraft (OD) in a quarter from 36 to 50 days and the number of consecutive days of OD from 14 to 21 days, up to March 31, 2022.
🔺Internal Ombudsman for NBFCs
🔹RBI has decided to introduce the Internal Ombudsman Scheme (IOS) for certain categories of NBFCs having higher customer interface to strengthen the internal grievance redress mechanism of NBFCs.
The next meeting of the Monetary Policy Committee is scheduled from December 6 to 8, 2021.
⚫Source: RBI
👍1
5_6271291957473969266.pdf
101.7 KB
I am sharing '5_6271291957473969266' with you