Digital payments growth dips 27% in Aug from peak; BHIM, UPI to take charge

Online transaction growth in value and volume terms are fluctuating in the range of a meagre 1-5 percent on a monthly basis since April Digital transactions have been witnessing a slower pace of growth each month post demonetisation with August transactions showing 26.5 percent dip in value terms from its peak in March. The number of transactions declined 8 percent […]

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RBI seen going for rate cut in August MPC meeting

With inflation falling to record low levels and industrial growth slipping to below 2%, bankers and economists feel the pressure has increased on the Reserve Bank of India to go for a policy rate cut in the monetary policy committee meeting next month. The six-member monetary policy committee (MPC) headed by RBI governor Urjit Patel will meet on 1-2 August […]

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