MD & CEO Of Punjab National Bank, CH. S. S. Mallikarjuna Rao is of the opinion that the growth projections has been retained and the CPI inflation projections has been moderated. As expected there is no change in policy rates. The gradual and calibrated unwinding of liquidity measures will support growth while keeping inflation under control.
Announcement of a framework of retail digital payment in offline mode across the country, increasing per transaction limit of IMPS from Rs 2 to Rs 5 lakh and geo-tagging of physical payment acceptance infrastructure, will support financial inclusion and is another step in a journey towards creating a digital financial infrastructure.
Bank lending to NBFCs for priority on-lending extended for 6-months up to March 31, 2022 will encourage flow of credit and support growth at the grassroots level.