Rbi mpc meet: The Reserve Bank of India (RBI) has taken a big step to curb the continuous growing banking fraud in the country. After the MPC meeting on Friday, RBI said that banks and non-banking companies will be given a special ‘domain name’ to save people from cyber fraud.
RBI Governor Sanjay Malhotra said after the meeting that increase in digital fraud is a matter of concern. For this, everyone needs to take necessary steps. He said, “A special domain of banks will be given ‘FIN.in’ to prevent cyber fraud. Its registration will begin in April.
Governor said, “Special domain names to banks to stop cyber fraud”bank.in‘And non-banking companies’Fin.in“The domain name will be given by the name.” He said that it will help to curb this banking fraud.
RBI said that rapid digitization of financial services has brought convenience and efficiency. However, the risk of cyber threats and digital risks has also increased. These are increasing day by day.
Repo rate cut after 5 years
The Reserve Bank of India (RBI) has cut the repo rate by 25 basis points on Friday, 7 February. Now the repo rate has come down from 6.5% to 6.25%. RBI Governor Sanjay Malhotra said that this decision has been taken unanimously.
Malhotra said that the Monetary Policy Committee (MPC) took this decision because the inflation has declined and it is likely to decrease further. He also informed that the demand in urban areas is still weak, but consumer demand is being improved in rural areas.