Top headlines: Credit cards to be linked to UPI, rate hike to push up costs

business-standard.com:

Real estate and capital goods companies are worried that the Reserve Bank of India’s rate hike on Wednesday will hurt their recovery as home and vehicle loans become costlier. With less than a month to go for the Reserve Bank of India’s (RBI’s) new card data storage norms to kick in, the ecosystem is better prepared this time around. However, the transition to the new regime may not be entirely seamless

For the first time since the flexible inflation-targeting framework was put in place in October 2016 for monetary policy making, the Reserve Bank of India (RBI), in all likelihood, will fail to achieve its mandate, which is to keep average inflation at 2-6 per cent for three consecutive quarters. Consumer price index-based inflation, the yardstick of the RBI in monetary policy making, was, on average, above 6 per cent during the January-March quarter. Read more

RBI's rate hike to push up costs: Realty, capital goods companies

Real estate and capital goods companies are worried that the Reserve Bank of India’s rate hike on Wednesday will hurt their recovery as home and vehicle loans become costlier. “A hike was inevitable, but we are now entering the red zone. Any future hikes will reflect markedly on housing sales,” said Anuj Puri, chairman of real estate advisory firm Anarock. Read more

RBI allows credit cards to be linked to UPI; marks shift from 'pay now'

The Reserve Bank of India (RBI) on Wednesday allowed linking of credit cards to Unified Payments Interface (UPI), which so far was being used as a ‘pay now’ facility, wherein money was debited from a customer’s bank account directly for any transaction. Initially, home-grown card network Rupay Credit cards will be linked with UPI. Read more

With month to go for