Hello
The current repo rate of 4% is the lowest in recent history and the RBI has let it unaltered. But it looks like that this rate can move only in one direction from now — up.
The RBI held the repo rate, its key lending rate, at 4% and kept the reverse repo rate, the borrowing rate, unchanged at 3.35%.
Banks will now have to alert the customers in advance about recurring payment due. The transaction would be carried out only after getting the customer's nod. This means no money will be debited automatically from your account.
The Consumer Price Index (CPI) based retail inflation stood at 4.06 per cent in January. The previous high was witnessed at 6.93 per cent in November 2020.
Data for sales and new launches of residential units in major metropolitan centres reflect a renewed confidence in the real estate sector.
The benchmark repurchase (repo) rate has been left unchanged at 4 per cent, Governor Shaktikanta Das said while announcing the decisions taken by the central bank's Monetary Policy Committee (MPC).
RBI had in April 2018 ordered financial institutions to break off all ties with individuals or businesses dealing in virtual currency such as bitcoin within three months.
Google has asked the developers of the remaining identified apps to demonstrate that they comply with applicable local laws and regulations, failing which those apps will also be removed.
It has been asked evaluate digital lending activities and assess the penetration and standards of outsourced digital lending activities in RBI regulated entities.
The penalty has been imposed through an order dated December 11.