New Delhi: The Monetary Policy Meeting (MPM) of RBI took place. On the third and last day of the meeting. The repo rate has been increased in the meeting. Meanwhile, the repo rate has been increased by 25 basis points. The new repo rate now stands at 6.50% from 6.25%. Apart from all this, RBI Governor Shaktikant Das has made other big announcements. Let’s know what are these big announcements.
First of all, passengers coming from G-20 will use
RBI Governor Shaktikanta Das said that now foreign tourists coming to India from abroad will also be able to use UPI. UPI facility will also be started for passengers coming to India from abroad. UPI facility for foreign tourists will be launched soon. However, this facility will be available only at a few airports. This facility will be first used for passengers coming from G-20. G-20 is a group of developed and developing countries of the world. These include Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Korea, Mexico, Russia, Saudi Arabia, South Africa, Turkey, the United Kingdom, the United States, and the European Union.
Launched under the Digital India campaign
RBI Governor Shaktikanta Das said that transactions through UPI grew by 1.3% in January to about Rs 13 lakh crore. UPI is a digital money transfer tool. It was launched under the Digital India campaign to facilitate money transactions. With UPI, you can transfer money from one account to another instantly. With the help of UPI, two parties can send money to each other digitally on a mobile platform. This transaction is completely secure. Money can be transferred between two parties, person to person or person to the merchant. To link a bank account with any UPI, your bank must have a UPI facility, and having a UPI application on your phone makes the task even easier.
