Emphasis on Increasing Women’s Economic Participation:- 
Speaking at a joint conference organized by the Indian Banks’ Association and FICCI, Shaktikanta Das said that India should create better employment opportunities for women. Currently, the participation of women in the workforce in India is below the global average. The main reasons for this include societal barriers, lack of workplace safety, and gaps in education and skill development among women. By addressing these issues, the number of women in the workforce can be increased.

Role of the Financial Sector:-
The RBI Governor also stated that the financial sector must play a crucial role in reducing gender inequality. Financial institutions should develop special products and schemes for women. Additionally, leveraging financial technology innovation can ease access to financial services, helping women become more economically empowered. He also mentioned that providing easier access to financial services for women would significantly benefit women entrepreneurs.

Role of ‘Bank Sakhis’:-
Das suggested that banks should increase the number of “Bank Sakhis.” Bank Sakhis work to ensure easy access to financial services in rural areas. Increasing their numbers would benefit rural women, enabling them to take advantage of financial services.

Challenges Facing Women Entrepreneurs:-
The RBI Governor noted that despite women’s participation in Micro, Small, and Medium Enterprises (MSMEs), women entrepreneurs still face numerous challenges. These challenges include lack of capital, limited market access, and insufficient awareness of government schemes. Das urged banks to create special plans and products for women entrepreneurs to help them become more economically empowered.

Thus, this RBI initiative could play a key role in improving the economic status of women and strengthening their role in the prosperity of the nation.

The RBI reaffirms its commitment to fostering a conducive environment for the growth and development of electronic trading platforms. As India strides towards a digital future, proactive regulatory measures are essential to navigate the complexities of the digital economy and safeguard the interests of all stakeholders in the pursuit of inclusive and sustainable growth.

The objective is to enhance the safety and security of transactions conducted through the widely used Aadhaar Enabled Payment System (AePS), which facilitates digital payments using Aadhaar identification. Anticipated guidelines will focus on bolstering the customer onboarding verification process for entities overseeing AePS touchpoints. Moreover, there will be an emphasis on integrating risk management protocols to mitigate the occurrence of fraudulent activities.

RBI announced its decision to maintain the repo rate at 6.5%, in line with the expectations of experts. Furthermore, the RBI retained its inflation projection at 5.4% for the fiscal year 2023–2024. This indicates the central bank’s confidence in its ability to manage inflationary pressures within the target range through appropriate monetary policy measures.

Looking ahead, the Consumer Price Index (CPI) inflation is forecasted to stand at 4.5% for the upcoming fiscal year 2024–2025. The quarterly projections depict a nuanced trajectory, with inflation expected to be at 5% in Q1, 4% in Q2, 4.6% in Q3, and 4.7% in Q4. These projections reflect the RBI’s meticulous analysis of various economic indicators and its proactive approach to inflation management

This regulatory framework is positioned to address the evolving challenges posed by technological advancements, such as algorithmic trading and high-frequency trading. By introducing guidelines to govern the use of such technologies, the RBI aims to strike a delicate balance between fostering innovation and ensuring market stability. 

– By Kashish Jain