GJ Town India

Guidelines on tokenisation For Card Transactions With a view to encourage digitisation of payments and enhance financial inclusion through digitisation, the Reserve Bank of India has decided to constitute a High-Level Committee on Deepening of Digital Payments. The composition of the Committee is under the chairmanship of Shri Nandan Nilekani, Former Chairman- Unique Identification Authority of India.   The Terms of Reference of the Committee are, a: To review the existing status of digitisation of payments in the country, identify the current gaps in the ecosystem and suggest ways to bridge them; b: To assess the current levels of digital payments in financial inclusion. c: To undertake cross country analyses with a view to identify best practices that can be adopted in our country to accelerate digitisation of the economy and financial inclusion through greater use of digital payments; d: Suggest measures to strengthen the safety and security of digital payments;

India to grow at 7.4% in 2018-19 LAF unchanged at 6.5 per cent Finance Ministry Statement on Fifth Bi-monthly Monetary Policy Statement, 2018-19 Resolution of the Monetary Policy Committee, Reserve Bank of India issued, on the basis of its assessment of the current and evolving macroeconomic situation, decided to keep the Policy Repo Rate under the Liquidity Adjustment Facility (LAF) unchanged at 6.5 per cent. The MPC has, however, retained its stance of ‘calibrated tightening’.     The GDP growth projection for 2018-19 is retained at 7.4 per cent as in the Fourth Bi-monthly Resolution in October, 2018.  The projections of inflation for 2018-19 and Q1:2019-20 have been substantially revised downwards from the October resolution. The Secretary, Department of Economic Affairs, Shri Subhash Chandra Garg in a Statement said that the assessment of the MPC for growth and inflation outlook is consistent with the Government’s assessment of inflation and growth.  Shri Ga