Mumbai: The corona epidemic could not do much harm to the economy. By the time the lockdown was announced, the country’s gross domestic product (GDP) was expected to fall sharply. The Reserve Bank of India thinks so. It is projected to see a 7.5 percent decline in GDP in the 2020-21 fiscal year. Earlier, it had forecast a 7.5% decline in the economy. Giving the details of the monetary policy review today, Reserve Bank Governor Shaktikant Das said there would be positive growth in the second quarter of the current financial year. Predicting the coming quarters, the Reserve Bank said that the economy will grow by 0.1% in October-December this year, 0.8% in January-March 2021, 21.6% in April-June 8 and 7.5% in July-September. Growth slowed to 23.6 percent in the April-June quarter of the current year after the announcement of the Lockdown for the Corona Epidemic. But in July-September, it improved dramatically. Many organizations are changing their mindset over the years as the economy performs better than experts. The Reserve Bank of India (RBI) also said it would reduce its forecast for the year to 7.5% growth. Today, after reviewing monetary policy, the main interest rate has been kept at 8%. The repo rate has not changed since last May. It is at the lowest level of 18 years. The reverse repo rate is 3.35%. The Reserve Bank lends to banks at repo rates. The Reserve Bank borrows from banks at reverse repo rates. RTGS7 facility will be available 24 hours a day New Delhi: The Real Time Gross Settlement (RTGS7) facility, which is used to send funds worth more than Rs 200,000, will be available 24 hours a day. Aadhaar-based payment system, IM4PS4, NETC, NFFSS, Rupee and UPI transactions will be available all day of the week. The facility is now available five days a week. The RTGS7 facility is now available on weekdays from 6 am to 6 pm. The facility was not available on the second and fourth Saturdays. Since 2016, the NEF4 facility has been available 24 hours a day. According to the Reserve Bank of India (RBI), the Rs 2,000 limit for non-touch card transactions (Contactless Transaction) will be increased from Rs 1 lakh to Rs 5,000 from January 1, 2021. A proposal has also been made for RBI Digital4 Payment4 Security Control.
