Brief by Shorts91 Newsdesk / 04:24pm on 08 Dec 2023,Friday Business
In the RBI Monetary Policy Meet, Governor Shaktikanta Das announced the enhancement of UPI transaction limits, raising payments to hospitals and educational institutions from ₹1 lakh to ₹5 lakh. Additionally, e-Mandates for recurring payments in mutual funds, insurance premiums, and credit card repayments now have a limit of ₹1 lakh. Governor Das emphasized that this move facilitates higher UPI payments for education and healthcare. The MPC, in its decision, kept the repo rate unchanged at 6.5%, focusing on withdrawing accommodation to align inflation with the target while supporting growth. Real GDP growth for FY23-24 is projected at 7%.
