RBI will announce decision on repo rate today at 10 AM. Later today, Governor Shaktikanta Das will hold press conference at 11 AM. Analysts expect India’s central bank to keep rate unchanged at 6.5%, in line with stance taken by other central banks. RBI has maintained this rate since February 2023.
The Reserve Bank of India (RBI) has increased the transaction limit for Unified Payments Interface (UPI) payments to hospitals and educational institutions to Rs 5 lakh from Rs 1 lakh per transaction.
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Economists welcomed the RBI's “surprise move” to keep the repo rate unchanged but also warned that another rate hike "could be in the offing" if inflation does not come down.