It was a general expectation because the inflation rate of in Indian currency hit a record low back in June, reaching about 1.54%.
The RBI will likely lower the interest rates from the current 6.25%, which has been held constant under high inflation rates.
This is part of the initial movement to rid the market of corruption and black market money, in which the government made a move
Payments banks cannot issue loans. They even cannot issue credit cards. However, they can issue ATM cards and debit cards.
RBI notified that the supply of fresh notes to rural branches should be increased. It said that at least 40 per cent bank notes