The decisions taken in the MPC meeting chaired by RBI Governor Shaktikanta Das on June 6 were announced today. Announcing the decisions taken in the meeting, Shaktikanta Das said that the repo rate has been kept stable at 6.5 percent. Let us tell you that RBI has kept the repo rate stable at 6.5 percent for the 9th consecutive time and there has been no change in it. However, RBI has also taken some big decisions in this meeting, which will have a direct impact on the common people.
1. Increase in UPI transaction limit
Reserve Bank of India Governor Shaktikanta Das said that it has been decided to increase the limit of UPI transactions for tax payment to Rs 5 lakh. Currently this limit is only Rs 1 lakh.
2. The check will be cleared in a few hours
Shaktikanta Das said that soon the cheque clearance will be completed in just a few hours. He said that work is going on on a new system for quick cheque clearance. At present, cheque clearance takes at least two days.
3. No change in repo rate
RBI has not made any change in the repo rate. This simply means that customers taking loans from the bank will not get any relief in interest rates and they will have to pay EMIs at higher rates.
4. Retail inflation expected to remain at 4.5%
The Reserve Bank of India has predicted that the retail inflation rate is expected to remain at 4.5 percent in the current financial year. Shaktikanta Das said that the pace of overall inflation is slowing down. Further softening is expected, but there is a need to remain cautious.
5. Food prices raised concerns
The ever-rising food prices have raised concerns not only for the common people but also for the RBI. Shaktikanta Das said that the MPC cannot ignore high food prices even if the core inflation is declining. He said that the common families of the country are more affected by food prices.
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