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MPC in 2 minutes: Here're the key development and regulatory steps

Payment banks can now hold Rs 2 lakh instead of Rs 1 lakh as end-day balance per customer

Topics
RBI monetary policy | Shaktikanta Das | Payment banks

Business Standard 

Shaktikanta Das, RBI governor
RBI Governor Shaktikanta Das

  • Policy repo rates unchanged; accommodative stance to continue as long as necessary
  • CPI inflation for Q4FY21 projected at 5%; Q1FY22 and Q2FY22 at 5.2%; Q3FY22 at 4.4% & Q4FY22 at 5.1%
  • Real GDP projection retained at 10.5% for FY22 — 26.2% in Q1, 8.3% in Q2, 5.4% in Q3, 6.2% in Q4
  • Deadline for on-tap TLTRO scheme extended till Sept 30, 2021
  • AIFIs to get Rs 50,000 cr as fresh support from RBI for new lending in 2021-22
  • can now hold Rs 2 lakh instead of Rs 1 lakh as end-day balance per customer
  • Panel to be formed to undertake comprehensive review of ARCs
  • PSL classification for bank loans to NBFCs for on-lending extended till Sept 30
  • Non-bank payment entities can now take direct memberships of centralised payment systems — NEFT and RTGS
  • RBI to periodically publish “Financial Inclusion Index” to measure the extent of financial inclusion
  • Limit on loan against warehouse receipts for agri produce hiked from Rs 50 lakh to Rs 75 lakh
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First Published: Thu, April 08 2021. 01:00 IST
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