Good news to everyone from March 13 i.e.., may be more than a month away, but it will be an eagerly awaited date.The goodnews for everyone is that the limits of Cash withdrawal from ATMs will finally be lifted on that date and the RBI on Wednesday kept its benchmark interest rate unchanged.
Here are the five big economic takeaways from Wednesday:
- Cash withdrawal limit from ATMs to be scrapped from March 13.
- Cash withdrawal limit to be raised from Rs 24,000 currently to Rs 50,000 on Feb.20 i.e,on this month.
- RBI leaves its benchmark repurchase rate unchanged at 6.25%.
- Current fiscal year economic growth is seen at 6.9%; 7.4% in next fiscal (FY 2017-18).
- Growth is expected to recover sharply in 2017-18.