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RBI Policy Meeting Highlights August 2023
August 15 , 2023
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- This is the third meeting on the trot that the MPC decided to maintain the status quo on the repo rate.
- The RBI Monetary Policy Committee has kept the key policy repo rate unchanged at 6.5%
- The MPC last raised this rate from 6.25 per cent to 6.50 per cent at its meeting in February.
- It has announced that the cash reserve ratio (CRR) remains unchanged at 4.5 per cent
- The Reserve Bank is planning to artificial intelligence (AI) in UPI payments.
- The Near Field Communication (NFC) technology will be deployed in offline payments via in UPI-Lite.
- The central bank raised payment limit via UPI lite to Rs 500 from Rs 200.
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