Good News! Investing will now be easier
[ad_1]
RBI: Reserve Bank of India is soon going to launch a mobile app to access the RBI Retail Direct Scheme for the convenience of investors. Bank Governor Shaktikanta Das gave this information while giving information about the decisions taken in the first monetary policy review meeting of the current financial year. RBI’s Retail ‘Direct Scheme’ was launched by the Reserve Bank in November, 2021. It facilitates individual investors to maintain gilt accounts with the Central Bank and invest in government securities. The scheme enables investors to buy securities in the primary auction as well as buy/sell securities through the NDS-OM platform.
App will come soon: RBI
The central bank said that to make this access easier and better, a mobile app of retail ‘direct portal’ is being created. This app will enable investors to buy and sell instruments on the go, at their convenience. The app will be available for use soon. The Reserve Bank of India (RBI) on Friday, in the first bi-monthly monetary policy review of the current financial year, did not make any change in the policy rate repo and kept it at 6.5 percent. The policy rate has been kept unchanged with the aim of bringing down inflation to four percent and accelerating economic growth amid global uncertainty. This is the seventh consecutive time that the repo rate has not been changed.
Also Read: EPFO made a big change in the rules, now you will not have to merge accounts.
Inflation rate will remain at 4.5 percent in 2024-25
RBI has maintained the inflation estimate for the current financial year at 4.5 percent. This is less than the estimate of 5.4 percent for the last financial year 2023-24. Presenting the first bi-monthly monetary review of the current financial year, RBI Governor Shaktikanta Das said that assuming normal monsoon conditions this year, Consumer Price Index (CPI) based inflation for the current financial year is estimated to be 4.5 percent. Inflation is likely to be 4.9 percent in the first quarter, 3.8 percent in the second quarter, 4.6 percent in the third quarter and 4.5 percent in the fourth quarter. In view of the forecast of high temperatures between April and June, he has expressed the need to be cautious on the food prices front. He also said that the impact of reduction in fuel prices will be visible on inflation in the coming months. However, the Governor said that it seems that the elephant (inflation) has gone for a walk and the RBI wants it to remain in the forest.
,with language input,
[ad_2]
Source link
