Governor Shaktikanta Das said that the Reserve Bank of India (RBI) has increased the cap on individual loans provided by co-operative banks by 100 percent.
As a result of the MPC meeting, the RBI raised the key lending rate by 50 basis points. Thus, indicating that inflation remains a concern.
Further, the Central bank has permitted rural cooperative banks to extend finance to commercial real estate, Das said.
UPI will be linked to credit cards
According to RBI Governor Raghuram Rajan, credit cards. Moreover, starting with RuPay credit cards, can now be linked to UPI (Unified Payments Interface) platforms.
On Monday, the RBI’s six-member Monetary Policy Committee, led by Governor Shaktikanta Das, began talks on the bi-monthly policy review.