Big things RBI Governor Shaktikanta Das.
- RTGS facility in India will be started 24 hours from December next. RTGS is open from 7 am to 6 pm on all working days of the banks (except the second and fourth Saturdays).
- The Reserve Bank has retained the repo rate at 4% and the reverse repo rate at 3.35%. There was no change in the policy rate even in August.
- The Reserve Bank will maintain a satisfactory liquidity position in the system, Rs 20,000 crore will be released under open market operations next week.
- GDP is expected to fall by 9.5 per cent in the current financial year. Earlier, according to the estimates released by the Central Statistics Office (CSO), GDP declined by 23.9 percent in the first quarter.
- Inflation is expected to fall within the targeted target by the fourth quarter of the current financial year. The current upsurge in inflation is temporary, agriculture scenario is visible bright, crude oil prices are expected to remain in the range.
- Now, for loans up to 80 percent of the value of residential property, banks will have to make provision of capital on the basis of 35 percent risk. Similarly, for loans up to 90 per cent, the risk will be to keep capital as per 50 per cent standard.