"sanjay-malhotra"

This initiative aims to reduce cyber security threats and malicious activities like phishing; and, streamline secure financial services, thereby enhancing trust in digital banking and payment services, says RBI

The rate cut comes for the first time in nearly five years after the last rate reduction in May 2020

The bank has kept the repo rate unchanged at 6.5 per cent since February 2023; the last time the RBI had reduced the rate was during Covid times and thereafter, it was gradually raised to 6.5 per cent

"Roughly numbers are in the range of 11 per cent year on year growth as in earlier months," Sanjay Malhotra told reporters.