While announcing the monetary policy, RBI Governor Shaktikanta Das said a framework will soon be introduced for retail digital payments in offline mode across India. “We believe this will help in transactions where internet connectivity is low,” he added. From September 2020-June 2021, RBI conducted three successful pilots of the technology that can enable digital payments even in remote areas.
The projection for real gross domestic product (GDP) growth is retained at 9.5% for the financial year 2021-2022, Reserve Bank of India (RBI) Governor Shaktikanta Das said. “This consists of 7.9% in Q2, 6.8% in Q3 and 6.1% in Q4 of FY 2021-2022,” he added. The real GDP growth for Q1 in FY 2023 is projected at 17.2%, Das said