RBI MPC meeting Highlights: Shaktikanta Das today announced to make the RTGS system available 24*7 for 365 days, in an effort to increase ease of doing business.
Das said that he is asymptomatic and feeling very much alright.
RBI MPC meeting Highlights: RBI Governor Shaktikanta Das has kept the repo rate unchanged once again in the latest monetary policy committee meeting. The stance is also kept unchanged in the meeting that concluded today. In another major announcement, the RBI Governor said that the Real Time Gross Settlement (RTGS) payment system will be available round the clock for 365 days. The latest move is likely to increase the ease of doing business as RTGS is used to transact a higher amount of money. While the central bank raised the retail portfolio limits of banks to Rs 7.5 cr in respect of fresh loans and qualifying exposure, it rationalised risk weights for all housing loans until 31 March 2022. The RBI expects that the economic recovery will be a 3-speed recovery, with variations across sectors. While manufacturing firms may see capacity utilisation in Q3, agri, consumer goods, power, and pharma sectors are likely to see quicker recovery, Shaktikanta Das added. Meanwhile, the RBI Governor said that the real GDP in the current fiscal year may contract by 9.5 per cent.