The Union Cabinet chaired by Prime Minister Narendra Modi approved an interest subvention of 1.5 percent per annum on short-term agriculture loans up to Rs 3 lakh to ensure "adequate credit flow in the agriculture sector".
Reserve Bank of India (RBI) Governor Shaktikanta Das-chaired Monetary Policy Committee (MPC) raised the repo rate by 50 basis points (bps) to 5.40 percent.
EXAMIANS