India stands at a crucial juncture in its quest to harness the potential of its demographic dividend. Renowned economist and former RBI Governor Raghuram Rajan’s recent remarks underscore the urgent need for concerted efforts to unlock the benefits of this demographic boon.
Indian stock exchanges are shut Thursday for Eid, with normal trading activities resuming Friday.
As the global economy continues to navigate uncertain waters, India finds itself at a crucial juncture, with its central bank steering the ship through turbulent seas.
The decision was taken at the Monetary Policy Committee (MPC) meeting of the apex bank.
Reserve Bank of India Governor Shaktikanta Das on Friday proposed to enable UPI for cash deposit facility.
The index for March 2021 stands at 270.59 as against 207.84 for March 2020, announced while launching the index on January 1, 2021.
Direct access for non-banks to CPS lowers the overall risk in the payments ecosystem.
In FY2019-20, the number stood at Rs 1,75,877 crore, the RBI said in the RTI reply.
The issuance of new cards through another payment gateway would take 2-3 months because it involves technology integration and other modalities.
"Even with a 9.5 per cent GDP growth in 2021-22, there will be substantial slack in the economy and demand pressures may take some more time to become evident," it said.
