In the coming time, you will not need a debit card to deposit money in the cash deposit machine. In fact, on Friday (April 5), Shaktikanta Das of the Reserve Bank of India said that RBI may soon start the facility of depositing money in cash deposit machines through UPI. This announcement was made by the Governor during the new monetary policy.
Let us tell you, at present the facility to withdraw cash from ATM through UPI is available. You can easily withdraw cash by visiting any bank and using the cashless facility at the ATM.
Will this facility start now?
At present, RBI has announced to start the facility of depositing money in cash deposit machines soon. However, when will this facility start? No fixed date has been given for this.
RBI will launch app for retail investors
In the speech given by the RBI Governor, it was said that RBI will soon launch the app for Retail Direct. Through this, investors can easily invest in government securities directly with RBI. At present, you can open an account with the central bank to invest directly in government securities through the RBI portal.
No change in repo rate
In the monetary policy of April 2024, the repo rate has been maintained at 6.5 percent by RBI. Along with this, SDF and MSF have been retained at 6.25 percent and 6.75 percent. Apart from this, the Governor said that the Indian economy remains strong. It is estimated to grow at the rate of 7.6 percent in fiscal year 2024 and 7 percent in fiscal year 2025. Inflation rate may be 4.5 percent in financial year 2025.
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