Views on RBI Monetary Policy by Mr. Aryaman Vir, CEO, WiseX
Below the Views on RBI Monetary Policy by Mr. Aryaman Vir, CEO, WiseX
“The Reserve Bank of India’s Monetary Policy Committee has decided to keep the repo rate unchanged at 6.50% for the fourth consecutive time, providing a stable environment for businesses to plan and invest, thus fostering economic growth. While this decision offers stability for businesses and consumers, it is crucial to remain focused on tackling the ongoing inflation challenge.
As the global economic landscape evolves, addressing the inflation challenge necessitates a careful balance of monetary and fiscal policy measures. The MPC's decision to hold rates provides temporary relief, but sustained policy efforts and proactive measures are essential to stabilize prices and ensure sustainable economic growth.
We are elated with the RBI's proposal to establish a fintech repository, which is poised to enhance regulatory insight and streamline processes, thereby increasing transparency in the digital lending landscape. Additionally, in a significant move towards financial inclusivity, the RBI has raised the UPI transaction limit for payments to hospitals and educational institutions from Rs 1 lakh to Rs 5 lakh. This initiative not only facilitates larger transactions in key sectors but also demonstrates the government's commitment to harnessing digital finance as a tool for inclusive economic development.”
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