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Below the Quote on RBI MPC Announcement by Shri S L Jain, MD & CEO of Indian Bank 

By keeping interest rates unchanged and sticking to its current policy stance, the MPC aims to strike a balance between supporting economic growth and managing inflationary pressures. This approach is essential in navigating the complex and changing global economic landscape, ensuring that the economy remains resilient and adaptable to future challenges.

Various developmental and regulatory policies have been announced, such as mandating all Regulated Entities (REs) to furnish a 'Key Fact Statement' (KFS) for retail and MSME loans. This will be aiding borrowers in informed decision-making.

Streamlining the on-boarding process for AePS touchpoint operators through mandatory due diligence will bolster transaction security and user confidence.

Moreover, the proposal to implement a principle-based framework for digital payment transaction authentication, due to innovation in technology led to emergence of alternative authentication mechanisms, is going to enhance digital security.

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