#RBI CBDC

[newsusapacific]

Central bank digital currency -will digital currency replace cash in India

The Reserve Bank of India (RBI) on its Twitter handle announced the launch of CBDC, a sort of CBDC crypto for retail users from Thursday (December 1). Customers and merchants of four cities of Mumbai, New Delhi, Bengaluru, and Bhubaneswar, will be able to use the digital rupee (e₹), or e-rupee. State Bank of India, ICICI Bank, Yes Bank, and IDFC First Bank are the four banks that will control the launch of the E-Rupee in these four cities that I mentioned before.  Read More

[cryptomarkett]

India;s central bank explores offline capabilities for CBDCs

RBI Executive Director's Announcement on Exploring Offline Capabilities of CBDCs in India,In addition to its offline capabilities, the Reserve Bank of India is assessing the potential of Central Bank Digital Currencies (CBDCs) for cross-border transactions and integration with the legacy systems of other nations...Read More

[cryptonewspod]

Digital Rupee - Is Digital Rupee A Cryptocurrency?

Digital Rupee – Is Digital Rupee A Cryptocurrency?

The era of digital transactions has started in India, people here do not want to keep cash anymore – because the people of India are now fiercely using online payment facilities like UPI, phone pay, Google pay.And for this reason, perhaps digital currency i.e. virtual currency is being started by the government in the country of India, and this beginning is being done by the Reserve Bank of…

[chandrashaker]

e-Rupee: RBI launches retail digital rupee e₹-R

RBI launches retail digital rupee e₹-R. e-Rupee or digital rupee is the electronic form of sovereign currency. e₹-R provides reasonable, secure, and more effortless payments for all.

The pilot launch of the Reserve Bank of India’s (RBI) retail digital currency, called the e-Rupee or digital rupee, became live on 1st December 2022. e-Rupee or digital rupee is the electronic form of sovereign currency called central bank digital currency (CBDC). According to the Reserve Bank of India notifications issued on 7th October and 29th November 2022, RBI is piloting the retail digital…

[topsearching]

RBI Digital Rupee 2022: Who will manage the digital rupee and how it will be used, know the answers to all the questions here

RBI Digital Rupee 2022: Who will manage the digital rupee and how it will be used, know the answers to all the questions here

RBI Digital Rupee: The retail pilot of the Reserve Bank of India’s (RBI) digital currency has gone live on 1 December 2022. RBI’s Central Bank Digital Currency (CBDC) known as E-Rupee or Digital Rupee is an electronic form of sovereign currency. What is Retail E-Rupee: RBI Digital Rupee The Reserve Bank of India believes that retail digital rupee can provide access to safe money for payments…

[apnnewshindi]

अब कैश की जरूरत नहीं! एक दिसंबर से लॉन्च हो रहा है डिजिटल रिटेल ई-रुपया

LINK: https://apnnews.in/business-news/rbi-to-roll-out-retail-digital-rupee-in-india-on-dec-1/

#rbi #digitalcurrency #indianrupee #APN #APNNews #APNHindi #digitalrupee #rupee #cbdc #centralbankdigitalcurrency #latestnews #news

[merapunjab84]

Digital currency

 (WHAT IS DIGITAL CURRENCY?)_

R.B.I ਪੱਕੇ ਤੌਰ 'ਤੇ ਡਿਜੀਟਲ ਕਰੰਸੀ ਲਾਂਚ ਕਰਨ ਜਾ ਰਿਹਾ ਹੈ। ਹੁਣ ਕਿਸੇ ਨੂੰ ਵੀ ਆਪਣੀ ਜੇਬ 'ਚ ਨੋਟ ਨਹੀਂ ਰੱਖਣੇ ਪੈਣਗੇ ਅਤੇ ਨਾ ਹੀ ਕਿਸੇ ਨੂੰ ਪੈਸੇ ਦੀ ਲੁੱਟ ਦਾ ਡਰ ਹੋਵੇਗਾ। ਤੁਸੀਂ ��ੋਚ ਰਹੇ ਹੋਵੋਗੇ ਕਿ ਇਹ ਕਿੰਨਾ ਚੰਗਾ ਹੋਵੇਗਾ ਪਰ ਰੁਕੋ ਜੇਕਰ ਮੈਂ ਤੁਹਾਨੂੰ ਕਹਾਂ ਕਿ ਇਹ ਸਾਨੂੰ ਪੂਰਣ ਗੁਲਾਮ ਬਣਾਉਣ ਲਈ ਪਹਿਲਾ ਕਦਮ ਹੋਵੇਗਾ। ਅਸਲ ਵਿੱਚ ਇਹ ਏਜੰਡਾ 2030 ਦਾ ਹਿੱਸਾ ਹੈ, ਜਿਸ ਨੂੰ ਸਾਰੇ ਦੇਸ਼ਾਂ ਦੇ ਬੈਂਕਾਂ ਦੁਆਰਾ ਪੂਰਾ ਕੀਤਾ ਜਾ ਰਿਹਾ ਹੈ। ਏਜੰਡਾ 2030 ਦੇ ਅਨੁਸਾਰ ਸਾਰੀ ਦੁਨੀਆ ਕੈਸ਼ਲੈੱਸ ਹੋਵੇਗੀ। ਕਿਸੇ ਕੋਲ ਕਾਗਜ਼ੀ ਨੋਟ ਨਹੀਂ ਹੋਣਗੇ। ਪੂਰੀ ਦੁਨੀਆ ਪੂਰੀ ਤਰ੍ਹਾਂ ਡਿਜੀਟਲ ਮੁਦਰਾ 'ਤੇ ਨਿਰਭਰ ਕਰੇਗੀ। ਤੁਸੀਂ ਸੋਚ ਰਹੇ ਹੋਵੋਗੇ ਕਿ ਇਹ ਚੰਗਾ ਹੈ, ਸਮੱਸਿਆ ਕਿੱਥੇ ਹੈ, ਪਰ ਆਉਣ ਵਾਲੇ ਸਾਲਾਂ ਵਿੱਚ ਡਿਜੀਟਲ ਪੈਸਾ ਸਿਰਫ ਸੀਮਤ ਵਰਤੋਂ ਲਈ ਹੋਵੇਗਾ ਜਿਵੇਂ ਕਿ ਇਸ ਡਿਜੀਟਲ ਮੁਦਰਾ ਦੀ ਵਰਤੋਂ ਕਰਨ ਲਈ ਇੱਕ ਸਮਾਂ ਸੀਮਾ ( expiry date ) ਹੋਵੇਗੀ ਜਿਵੇਂ ਕਿ 2030 ਤੱਕ ਪੂਰੇ ਮਨੁੱਖੀ ਸਮਾਜ ਨੂੰ ਡਿਜੀਟਲ ਕਰੰਸੀ ਨਾਲ ਕਵਰ ਕੀਤਾ ਜਾਵੇਗਾ। ਇੱਕ ਵਿਅਕਤੀ ਖਾਤੇ ਵਿੱਚ ਸਿਰਫ ਕੁਝ ਸੀਮਤ ਰਕਮ ਰੱਖੇਗਾ, ਜਿਵੇਂ ਕਿ ਵਿਸ਼ਵ ਸਰਕਾਰ ਐਲਾਨ ਕਰੇਗੀ ਕਿ ਸਾਰੇ ਮਨੁੱਖ ਆਪਣੇ ਖਾਤਿਆਂ ਵਿੱਚ ਸਿਰਫ 30 ਲੱਖ ਡਿਜੀਟਲ ਪੈਸੇ ਰੱਖ ਸਕਦੇ ਹਨ ਪਰ ਇਸ ਤੋਂ ਵੱਧ ਨਹੀਂ। ਅਤੇ ਇਹ ਕੁਝ ਸਮੇਂ ਬਾਅਦ ਖਤਮ ਹੋ ਜਾਵੇਗਾ। ਹਰੇਕ ਡਿਜੀਟਲ ਮੁਦਰਾ ਦੀ ਆਪਣੀ ਮਿਆਦ ਪੁੱਗਣ ਦੀ ਮਿਤੀ ਹੋਵੇਗੀ। ਏਜੰਡਾ 2030 ਦੇ ਅਨੁਸਾਰ ਸਾਨੂੰ ਹਰ ਕੰਮ ਡਿਜੀਟਲ ਕਰੰਸੀ ਨਾਲ ਕਰਨਾ ਹੋਵੇਗਾ। ਅਤੇ ਪੂਰੀ ਦੁਨੀਆ ਵਿੱਚ ਇੱਕ ਮੁਦਰਾ ਹੋਵੇਗੀ |ਇੱਥੇ ਕਾਗਜ਼ੀ ਪੈਸੇ ਲਈ ਕੋਈ ਥਾਂ ਨਹੀਂ ਹੋਵੇਗੀ। ਵਿਸ਼ਵ ਸਰਕਾਰ ਦੇ ਹੁਕਮਾਂ ਅਨੁਸਾਰ, ਹਰ ਮਨੁੱਖ ਦੀਆਂ ਬਾਹਾਂ 'ਤੇ ਸਕੈਨਿੰਗ ਕੋਡ ਹੋਵੇਗਾ ਤੇ ਤੁਹਾਡੀ ਹੱਥ ਵਿੱਚ RFID ਚਿੱਪ ਸਥਾਪਤ ਕੀਤੀ ਜਾਵੇਗੀ ਜੋ ਇਸ ਸਕੈਨਿੰਗ ਕੋਡ ਨੂੰ ਚਲਾਏਗੀ ਜਿਸ ਵਿੱਚ ਸਾਡੀ ਸਾਰੀ ਕਰੰਸੀ ਹੋਵੇਗੀ। ਬੈਂਕਾਂ ਦਾ ਕੰਮ ਖਤਮ ਹੋ ਜਾਵੇਗਾ। ਅਤੇ ਇਹ ਸਕੈਨਿੰਗ ਕੋਡ 666 ਨੰਬਰ ਨਾਲ ਮਾਰਕ ਹੋਵੇਗਾ, ਜੋ ਕਿ ਸ਼ੈਤਾਨ ਦਾ ਨੰਬਰ ਹੈ। ਇਸ ਲਈ ਜਦੋਂ ਅਸੀਂ ਕੁਝ ਖਰੀਦਦਾਰੀ ਕਰਨ ਲਈ ਬਾਹਰ ਜਾਵਾਂਗੇ ਤਾਂ ਸਾਨੂੰ ਚੀਜ਼ਾਂ ਖਰੀਦਣ ਲਈ ਆਪਣਾ ਕੋਡ ਸਕੈਨ ਕਰਵਾਉਣ ਪਵੇਗਾ, ਫਿਰ ਅਸੀਂ ਕੁਝ ਵੀ ਖਰੀਦਣ ਜਾਂ ਵੇਚਣ ਦੇ ਯੋਗ ਹੋਵਾਂਗੇ। ਹਰ ਕਿਸੇ ਨੂੰ ਆਪਣੇ ਖਾਤਿਆਂ ਵਿੱਚ ਸਿਰਫ਼ ਸੀਮਤ ਪੈਸੇ ਹੀ ਰੱਖਣੇ ਹੋਣਗੇ, ਜੋ ਕਿ ਡਿਜੀਟਲ ਕਰੰਸੀ ਵਿੱਚ ਹੋਣਗੇ। google pay, Paytm, phone pay ਇਹ ਸਾਰੀਆਂ ਔਨਲਾਈਨ ਟ੍ਰਾਂਜੈਕਸ਼ਨ ਐਪਸ 2030 ਦੇ ਏਜੰਡੇ ਨੂੰ ਪੂਰਾ ਕਰਨ ਲਈ ਸ਼ੁਰੂ ਕੀਤੀਆਂ ਗਈਆਂ ਹਨ, ਜਿਸ ਨਾਲ ਲੋਕ ਡਿਜੀਟਲ ਮੁਦਰਾ ਦੀ ਵਰਤੋਂ ਕਰਨ ਲਈ ਪ੍ਰੇਰਿਤ ਹੁੰਦੇ ਹਨ। ਸਾਡੀ ਸਾਰੀ ਜਾਇਦਾਦ ਅਤੇ ਪੈਸਾ ਪੂਰੀ ਤਰ੍ਹਾਂ ਵਿਸ਼ਵ ਸਰਕਾਰ ਦੇ ਨਿਯੰਤਰਣ ਵਿੱਚ ਹੋਵੇਗਾ, ਸਾਡੇ ਕੋਲ ਆਪਣਾ ਕੁਝ ਨਹੀਂ ਹੋਵੇਗਾ। ਇਸ ਲਈ ਕਿਰਪਾ ਕਰਕੇ ਔਨਲਾਈਨ ਟ੍ਰਾਂਜੈਕਸ਼ਨ ਐਪਸ ਦੀ ਵਰਤੋਂ ਕਰਨ ਤੋਂ ਬਚੋ। ਇਹ ਸਾਨੂੰ ਗੁਲਾਮ ਬਣਾਉਣ ਦੀ ਯੋਜਨਾ ਹੈ। ਹੁਣ R.B.। ਡਿਜੀਟਲ ਮੁਦਰਾ ਲਿਆਉਣ ਲਈ ਕੁਝ ਭਾਰਤੀ ਬੈਂਕਾਂ ਨਾਲ ਗੱਲ ਕਰ ਰਿਹਾ ਹੈ .. ਬੈਂਕ ਦੇ ਨਾਮ ਹਨ SBI, BoB, HDFC, ICICI KOTAK, IDFC ਅਤੇ HSBC। ਇਹ ਡਿਜੀਟਲ ਕਰੰਸੀ ਦੋ ਤਰ੍ਹਾਂ ਦੀ ਹੋਵੇਗੀ ਪਹਿਲੀ CBDC ਹੋਲਸੇਲ ��ਤੇ ਦੂਜੀ CBDC ਰਿਟੇਲ। ਆਉਣ ਵਾਲੇ ਕੁਛ ਸਾਲਾਂ ਵਿੱਚ ਦੁਨੀਆਂ ਕੈਸ਼ ਲੈਸ ਹੋਣ ਜਾ ਰਹੀ ਹੈ। ਸਾਰਾ ਡਿਜੀਟਲ ਪੈਸਾ ਵਿਸ਼ਵ ਸਰਕਾਰ ਦੇ ਅਧੀਨ ਹੋਵੇਗਾ। ਹਰ ਲੈਣ ਦੇਣ 666 ਕੋਡ ਦੀ ਸਕੈਨਿੰਗ ਨਾਲ ਕੰਮ ਕਰੇਗਾ ਇਹੀ ਓਹੀ ਚਿੱਪ ਹੋਊਗੀ ਜੌ ਤੁਹਾਡੇ ਹੱਥ ਵਿਚ ਲਾਈ ਜਾਊਗੀ। ਸਾਨੂੰ ਖੁਲ ਕੇ ਜੀਣਾ ਭੁੱਲਣਾ ਪਵੇਗਾ ਇਸ ਲਈ ਕਿਰਪਾ ਕਰਕੇ ਜਾਗੋ। ਸੱਪ ਸਿਰਫ ਮੇਰੇ ਬਿਸਤਰੇ ਦੇ ਹੇਠਾਂ ਨਹੀਂ ਹੈ, ਸੱਪ ਤੁਹਾਡੇ ਵੀ ਬਿਸਤਰੇ ਦੇ ਹੇਠਾਂ ਹੈ। ਮੇਰੇ ਤੇ ਵਿਸ਼ਵਾਸ ਕਰੋ ਇਹ ਅਸਲ ਵਿਚ ਵਾਪਰਨ ਜਾ ਰਿਹਾ ਹੈ।

Merapunjab84

#rbi #punjab #india

[cryptotalenews]

India’s Cryptocurrency Regulations and Taxation: Navigating a Challenging Landscape

India’s relationship with cryptocurrency is complex, marked by a balance between regulatory caution and financial innovation. Since the Reserve Bank of India's (RBI) 2018 ban on banks supporting crypto exchanges, which was overturned by the Supreme Court in 2020, India’s approach to crypto has oscillated between restriction and gradual acceptance. The proposed Cryptocurrency and Regulation of Official Digital Currency Bill, though not yet passed, underscores the government’s intent to regulate crypto while working toward its own Central Bank Digital Currency (CBDC).

India’s 2022 Union Budget introduced a high 30% tax on cryptocurrency profits, categorizing Virtual Digital Assets (VDAs) similarly to gambling or lottery earnings. In addition, a 1% Tax Deducted at Source (TDS) on transactions over ₹10,000 further reflects the government’s cautious stance. These measures ensure comprehensive monitoring, as TDS applies even to peer-to-peer transactions and must be recorded in income tax returns.

The regulatory framework continues to evolve with the Prevention of Money Laundering Act (PMLA) now covering crypto, requiring exchanges to document every transaction detail. The RBI and Securities and Exchange Board of India (SEBI) have adopted different views: RBI advocates for stringent controls, while SEBI supports a multi-regulator system that would oversee crypto as a security.

As India moves forward with its pilot CBDC program, the landscape for private cryptocurrencies grows tighter. The country’s legal and regulatory efforts signal a readiness to integrate digital finance cautiously, curbing crypto’s anonymous nature and high-risk appeal while ensuring robust oversight. India’s crypto journey, therefore, is one of navigating innovation within the limits of regulatory clarity and caution.

For more insights into India’s approach to cryptocurrency regulations and taxation, visit Cryptocurrency Regulations and Taxation in India.

[dailyreportonline]

RBI Governor Highlights Need for Faster Remittance Settlements Amid Advancing eRupee Trials | Daily Reports Online

The Reserve Bank of India (RBI), that is spearheading the creation and testing of the eRupee CBDC, is aiming to fasten the time it takes for financial settlements to be completed. In a recent keynote address at the RBI@91 high-level conference in New Delhi on October 14, RBI Governor Shaktikanta Das highlighted that India is among the few major economies with a 24×7 real-time gross settlement…

[insideoutvietnam]

India’s CBDC Has 5M Users, Can be Phased in Gradually: Central Bank Governor

Governor Shaktikanta Das said there should not be in any rush to roll out a system-wide CBDC. India’s central bank Governor Shaktikanta Das has said that while their retail central bank digital currency (CBDC) pilot has over 5 million users, there should not be in any rush to roll out a system-wide CBDC. The senior most official of the Reserve Bank of India (RBI) was speaking at at a conference…

[ujjinatd]

El CBDC de eRupee ha conseguido 5 millones de usuarios en el programa piloto minorista y está listo para una mayor programabilidad: Gobernador del RBI La rupia digital de la India, o mon... https://ujjina.com/el-cbdc-de-erupee-ha-conseguido-5-millones-de-usuarios-en-el-programa-piloto-minorista-y-esta-listo-para-una-mayor-programabilidad-gobernador-del-rbi/?feed_id=740769&_unique_id=66ccbaf7698b2

[kgsupsccourses]

Current Affairs 2024: Key Highlights for UPSC Aspirants

The year 2024 has been eventful, with significant developments in politics, economics, environment, and technology. For UPSC aspirants, understanding these current affairs is vital as they play a crucial role in the Civil Services Examination. This article, crafted for Khan Global Studies, provides a detailed overview of the major events of 2024 to aid your preparation.

Geopolitical Developments

India’s Role in the Indo-Pacific

In 2024, India continued to bolster its strategic influence in the Indo-Pacific region. The Quad nations (India, the United States, Japan, and Australia) held a landmark summit in Tokyo, focusing on maritime security, counter-terrorism, and climate change. This year's summit resulted in the formation of a new maritime security framework aimed at countering increasing assertiveness in the South China Sea.

US Presidential Election

The 2024 US Presidential Election was a pivotal event with global implications. The election saw a record voter turnout, reflecting deep political engagement. The elected President's policies on international trade, climate change, and defense are expected to influence global geopolitics significantly. India, as a strategic partner, will closely watch how these policies unfold.

BRICS Expansion

The BRICS (Brazil, Russia, India, China, and South Africa) group saw the inclusion of new members, signaling a shift towards a more multipolar world order. The expansion aims to enhance economic cooperation and address global challenges like climate change and economic inequality. This development is crucial for India’s foreign policy and economic strategy.

Economic Developments

Global Economic Recovery

The global economy showed signs of recovery post-pandemic, with growth rates improving in major economies. India's economy grew at a robust pace, driven by strong domestic consumption and government initiatives to boost manufacturing and exports. The launch of the "Make in India 2.0" initiative aimed to attract foreign investment and foster innovation in the tech sector.

Digital Currency Initiatives

Several countries, including India, made significant strides in developing and implementing digital currencies. The Reserve Bank of India (RBI) launched its Central Bank Digital Currency (CBDC) pilot, aiming to enhance financial inclusion and reduce transaction costs. This move is expected to revolutionize the financial sector and provide a competitive edge in the global digital economy.

Environmental and Technological Advancements

Climate Change Mitigation Efforts

Climate change remained a pressing issue in 2024. India hosted the Global Climate Summit, where nations committed to more aggressive carbon reduction targets. India announced its "Net Zero by 2070" plan, focusing on renewable energy expansion, afforestation, and sustainable urban development. These efforts are critical for achieving global climate goals and positioning India as a leader in climate action.

Technological Innovations

Technological advancements continued to shape the global landscape. India made significant progress in artificial intelligence (AI) and quantum computing. The government’s "AI for All" initiative aimed to integrate AI into various sectors, including healthcare, education, and agriculture, to improve efficiency and outcomes. The development of a national quantum mission also underscored India's commitment to becoming a leader in cutting-edge technologies.

Social and Cultural Trends

Education Reforms

Education reforms were a major focus in 2024, with the implementation of the New Education Policy (NEP) 2020 gaining momentum. The policy's emphasis on skill development, digital learning, and inclusivity aims to transform India’s educational landscape. Increased investment in educational infrastructure and teacher training programs is expected to enhance the quality of education and prepare the youth for future challenges.

Public Health Initiatives

Public health remained a priority, with efforts to strengthen healthcare infrastructure and ensure equitable access to medical services. The government launched the "Ayushman Bharat 2.0" scheme, expanding coverage and benefits to more citizens. Emphasis on preventive healthcare and mental health awareness has also been a key aspect of public health policies in 2024.

Conclusion

Staying updated with current affairs for UPSC aspirants. The developments of 2024 highlight significant geopolitical shifts, economic progress, environmental commitments, technological advancements, and social reforms. Understanding these events and their implications will not only help in the examination but also provide a broader perspective on the rapidly changing world.

[nickyysharmi]

What NBFC Leaders Really Think about RBI's Balanced Approach

In the intricate dance of fiscal policies and economic dynamics, the Reserve Bank of India (RBI) recently decided to maintain the status quo on rates, leaving many wondering about the implications for the financial landscape. Let's delve into the thoughts of Non-Banking Financial Company (NBFC) leaders on this balanced move by the RBI.

Balancing Act: RBI's Pragmatic Approach

The Monetary Policy Committee's decision to hold rates didn't catch the banking bigwigs by surprise. SBI's Chairman, Dinesh Khara, described it as a "balanced" move that reflects a pragmatic and steadfast approach. He emphasized the importance of digital robustness, customer centricity, and price discovery in the evolving financial landscape.

Inflation and Growth: A Delicate Equilibrium

Indian Bank's Chief, S L Jain, echoed the sentiment, hailing the decision as a balanced call. Maintaining interest rates and sticking to the current policy stance, according to Jain, aims at striking a crucial balance between supporting economic growth and managing inflationary pressures. In the face of a dynamic global economic landscape, this approach ensures the resilience and adaptability of the economy to future challenges.

Contrary to Expectations: RBI's Steadfast Focus on Inflation

Zarin Daruwala, Country Head of Standard Chartered Bank, noted the unexpected move of RBI retaining its tight monetary stance. Contrary to market expectations, the Monetary Policy Committee held the repo rate steady while surprisingly revising the GDP forecast to a robust 7% for FY25. Daruwala commended the RBI for maintaining a well-balanced decision that prioritizes inflation control.

Also Read: Abhay Bhutada Talks About Lowering Lending Rates For Customers In 2025

Developmental Policies: A Boon for Borrowers

The NBFC leaders also appreciated the developmental policies accompanying the monetary decision. SBI's Khara particularly highlighted the introduction of the 'Key Fact Statement' (KFS) for retail and MSME loans. This move is seen as instrumental in aiding borrowers in making informed decisions, promoting transparency in the lending process.

Digital Resilience: A Step Forward

Acknowledging the need for a resilient financial system, Khara also lauded the enhancement of Aadhaar-enabled Payment Systems (AePS) and the authentication of digital transactions through new mechanisms. The operational changes in Central Bank Digital Currency (CBDC) were deemed crucial milestones for systemic resilience and a promising future.

CBDC's Expanded Role: Encouraging Broader Adoption

Zarin Daruwala emphasized the significance of the augmentation of CBDC functionality and the permission for its offline use. According to Daruwala, this move will not only enhance the efficiency of digital transactions but also encourage broader adoption of CBDC, paving the way for a more inclusive and technologically advanced financial ecosystem.

Non-Bank Lenders Applaud the Stance

Shifting our focus to the non-banking sector, Abhay Bhutada Poonawalla Fincorp’s former MD expressed relief. According to Bhutada, the policy stance alleviates any additional financial burden on customers, creating a conducive environment for sustained sectoral growth.

Also Read: Navigating Rising Funding Costs: Strategies for NBFCs Amid Earnings Downgrades

Conclusion

In essence, the RBI's nuanced decision, applauded by key industry figures such as Dinesh Khara of SBI, S L Jain from Indian Bank, Zarin Daruwala of Standard Chartered Bank, and Abhay Bhutada of Poonawalla Fincorp, showcases a harmonious blend of strategic foresight and resilience. By striking a delicate balance between inflation control, digital innovation, and developmental policies, the RBI not only aligns with market expectations but also charts a course for a future-ready and robust financial landscape.