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Why in the news? RBI Deputy Governor stresses on maintaining restrictive monetary policy due to persisting inflation risks and uncertain economic conditions. About the Importance of Price Stability: RBI Deputy Governor Michael Deba- brata Patra underscores the need to restore price stability for sustaining the economy’s growth trajectory. He highlights that the current economic conditions …
Read MoreWhy in the news? RBI plans to enable UPI for cash deposits, permits foreign investment in green bonds, and introduces a mobile app for Retail Direct scheme. source:fintra About RBI’s Initiatives for Digital Banking: RBI plans to enable Unified Payment Interface (UPI) for cash deposits, acknowledging its popularity and convenience. This move aims to enhance …
Read MoreRelevance: GS 3 – Indian Economy and issues relating to planning, mobilization, of resources, growth, development and employment. Why in the News? As RBI celebrates its 90th year, we acknowledge its significant role in central banking. The Reserve Bank of India was founded on April 1, 1935, as per the stipulations of the Reserve Bank …
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