Governor - Rightsofemployees.com https://www.rightsofemployees.com Know Your Rights Thu, 29 Aug 2024 12:13:04 +0000 en-US hourly 1 https://wordpress.org/?v=7.0 https://www.rightsofemployees.com/wp-content/uploads/2018/01/cropped-emp1-32x32.png Governor - Rightsofemployees.com https://www.rightsofemployees.com 32 32 RBI is planning to make Rupee and UPI global, big statement by governor https://www.rightsofemployees.com/rbi-is-planning-to-make-rupee-and-upi-global-big-statement-by-governor/ Thu, 29 Aug 2024 14:28:56 +0000 https://www.rightsofemployees.com/?p=32492 Reserve Bank of India (RBI) Governor Shaktikanta Das said that efforts are being made to make UPI and RuPay truly global. Addressing the Global Fintech Fest 2024, Das said that RBI’s focus is on empowering financial inclusion, digital public infrastructure (DPI), consumer safety and cyber security, sustainable finance and global integration of financial services. The […]

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]]> Reserve Bank of India (RBI) Governor Shaktikanta Das said that efforts are being made to make UPI and RuPay truly global. Addressing the Global Fintech Fest 2024, Das said that RBI’s focus is on empowering financial inclusion, digital public infrastructure (DPI), consumer safety and cyber security, sustainable finance and global integration of financial services.

The governor said this

He said that India is an active part of international forums and bilateral agreements to promote economic cooperation with many countries and strengthening the financial infrastructure including cross-border payment systems will be the main target area of ​​the Reserve Bank. We are now focusing on making UPI and RuPay truly global.

He said that in this direction, significant progress has been made with Bhutan, Nepal, Sri Lanka, Singapore, United Arab Emirates (UAE), Mauritius, Namibia, Peru, France and some other countries accepting RuPay cards and payments through the UPI network. He said that these efforts underline the collaborative efforts to adopt India’s initiative across the world.

Also Read: NPCI on Wednesday launched a new feature UPI Delegated Payment

This is the specialty of UPI and Rupay

Unified Payment System (UPI) facilitates inter-bank transactions through mobile phones, while Rupay is a domestically developed global card payment network. Das said that with the help of its tech capability and developed fintech ecosystem, India has the potential to become a global hub of digital innovation and fintech startups, create and strengthen strategic partnerships, strengthen commitment to international cooperation and develop institutions of excellence.

Das said that the fintech sector has attracted investments worth about six billion dollars in the last two years. The RBI governor said that India is now a fast-growing economic power. He said that financial institutions and fintech should quickly adopt a strong framework to take advantage of the new opportunities arising in the Indian economy and reduce risks. He said that digital financial inclusion has unique advantages of being affordable at scale and affordable cost. He said that the new trinity of JAM-UPI-ULI is a revolutionary step in India’s digital infrastructure journey.

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]]> RBI Repo Rate Update: RBI’s repo rate did not change, Governor made many big announcements including inflation, monsoon! https://www.rightsofemployees.com/rbi-repo-rate-update-rbis-repo-rate-did-not-change-governor-made-many-big-announcements-including-inflation-monsoon/ Thu, 08 Jun 2023 05:28:24 +0000 https://www.rightsofemployees.com/?p=17527 The Reserve Bank of India’s Monetary Policy Committee has decided not to change the repo rate even during the second meeting of the financial year 2024.  Reserve Bank Governor Shaktikanta Das announced that there will be no change in the repo rate. This means that it will remain at 6.50 per cent. Last time during the […]

The post RBI Repo Rate Update: RBI’s repo rate did not change, Governor made many big announcements including inflation, monsoon! first appeared on Rightsofemployees.com.

]]> The Reserve Bank of India’s Monetary Policy Committee has decided not to change the repo rate even during the second meeting of the financial year 2024. 

Reserve Bank Governor Shaktikanta Das announced that there will be no change in the repo rate. This means that it will remain at 6.50 per cent.

Last time during the MPS meeting of RBI held in April, there was no change in the repo rate. However, from May 2022 to March i.e. during the last financial year, the repo rate was increased by 2.50. Let us know what big announcements have been made by the RBI Governor. 

What big announcements did Governor Shaktikanta Das make? 

  • The Reserve Bank has not made any change in the repo rate and it remains at 6.50 percent.
  • Standing deposit facility rate remains unchanged at 6.25 per cent
  • The Marginal Standing Facility rate and the Bank Rate are also unchanged and stand at 6.75 per cent.
  • The RBI governor said that the CPI inflation rate is still above the RBI’s target of 4 per cent and is expected to remain above it till 2023-24 as per estimates. 

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