RBI Monetary Policy April 2021- The RBI Monetary policy committee on 7th April, Wednesday kept the repo rate (at which RBI lends short-term funds to the banks) unchanged at 4%. The reverse repo rate stands at 3.35 percent.
The RBI Governor Shaktikanta Das said that the central bank will remain accommodative as long as necessary to sustain growth on a durable basis.
RBI Monetary Policy April 2021
Here are the key updates of “RBI Monetary Policy April 2021”–
🎯RTGS and NEFT facilities will be extended to digital payments intermediaries, beyond banks.
🎯Enhancing ways & means advance (WMA) limit to ₹ 47,010 crores, up 46% from the current limit of ₹ 32,225 crores: RBI Governor.
🎯Governor Das says that a body will be set up to review the functioning of Asset Reconstruction Companies (ARCs) and recommend measures.
🎯₹ 50,000 crores of lending support to be provided to Nabard, NHB, and Sidbi as fresh lending in 2021.
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