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Key Highlights of Recent RBI Announcements

Policy Rates and Stance

  • The repo rate was maintained at 6.5%, with a neutral policy stance.
  • Other key rates remained steady:
    • Standing Deposit Facility (SDF): 6.25%
    • Marginal Standing Facility (MSF) and Bank Rate: 6.75%.

Cash Reserve Ratio (CRR) Adjustment

The CRR was reduced by 50 basis points to 4%, aimed at releasing ₹1.16 lakh crore into the banking system. This measure targets improving liquidity and fostering economic growth

Inflation and Growth Projections

  • FY25 inflation target was revised upward to 4.8% from 4.5%, highlighting challenges like supply-side shocks and persistent food inflation volatility.
  • GDP growth projection for FY25 was lowered from 7.2% to 6.6%, reflecting cautious optimism in the face of global economic uncertainties​

Enhanced Limits for Transactions

  • UPI payments for educational and healthcare institutions now have a raised limit of ₹5 lakh per transaction.
  • The limit for recurring payments under the e-mandate framework was increased to ₹1 lakh, easing processes for insurance premiums, mutual fund subscriptions, and credit card repayments

Support for Agriculture and Financial Inclusion

  • The collateral-free agriculture loan limit was raised to ₹2 lakh per borrower, aimed at aiding small farmers to cope with rising input costs.
  • Small finance banks were permitted to offer pre-sanctioned credit lines through UPI​

Technological Innovations

  • Launch of MuleHunter.AI to detect fraudulent accounts.
  • Introduction of Secured Overnight Rupee Rate (SORR) to enhance money market benchmarks.
  • Proposal for a framework to ensure ethical use of AI in the financial sector​

Operational Improvements

  • Liquidity facilities like SDF and MSF will now be available during weekends and holidays, streamlining bank operations​
    .

These measures reflect RBI’s balanced approach to ensure financial stability while addressing inflation and fostering growth. For UPSC aspirants, this underscores the RBI’s pivotal role in macroeconomic stability, monetary policy, and financial innovation.

This information is critical for preparing for topics in economics, governance, and technology within UPSC syllabus.

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