As predicted by economists, the monetary policy committee (MPC) of Reserve Bank of India (RBI) kept the repo rate unchanged at 6.50% during its February bi-monthly meeting. The marginal standing facility (MSF) rate and the bank rate will be steady at to 6.75%. RBI’s policy stance continues to be ‘withdrawal of accommodation’, with five out of six MPC members voting in its favour, governor Shaktikanta Das says. More Details Soon.
RBI Monetary Policy: Repo rate remains unchanged at 6.5%, MSF & Bank Rate at 6.75 per cent, inflation projection raised to 5.4%, GDP growth forecast lowered to 7%, FY24 GDP forecast, FY24 Inflation
Aadhaar Enabled Payment System (AEPS) is a payment service that allows a bank customer to use Aadhaar as his/her identity to access his/her Aadhaar enabled bank account and perform basic banking transactions like balance enquiry, cash withdrawal, remittances through a Business Correspondent.
The RBI today said that it has decided to come out with a new framework for authentication of digital payment transactions and introduce additional norms to enhance the security of the Aadhaar Enabled Payment System (AePS).
RBI Plans New Framework For Authentication Of Digital Transactions menafn.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from menafn.com Daily Mail and Mail on Sunday newspapers.