RBI Governor Shaktikanta Das announced the MPC's decision to maintain the key policy rate unchanged at 6.50%.
The central bank unveiled plans to enhance financial benchmark administration with a risk-based framework.
Revised projections place India's retail inflation at 5.4% for the fiscal year 2023-24.
Governor Das outlined an inflation trajectory assuming a normal monsoon, projecting 5.4% for the year.
The per transaction payment limit for UPI Lite in offline mode is proposed to increase to ₹500.
A framework allowing borrowers to transition from floating to fixed interest rates was introduced for loans.
RBI aims to foster digital payments and convenience through increased transaction limits.
The central bank's commitment to stability and growth was highlighted despite global uncertainties.
RBI's initiatives collectively contribute to shaping India's economic landscape amid evolving global conditions.
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