Syllabus: GS-III  Subject: Economy  Topic: Monetary policies and instruments. Issue: Price stability.
Context: RBI Monetary Policy 2024.
Key Highlights:
- Policy stance maintained at ‘withdrawal of accommodation’.
- A scheme for trading sovereign green bonds at IFSC to be introduced.
- Introduction of a mobile app for RBI’s Retail Direct Scheme access.
- Small finance banks permitted to deal in rupee interest rate derivative products.
- UPI enabled for Cash Deposit Facility.
- UPI access for Prepaid Payment Instruments through third-party apps.
- Distribution of Central Bank Digital Currencies (CBDCs) through Non-bank Payment System Operators.
Prelims Connect:
| Prelims Connect:
|
