The governor was announcing the decision of the Monetary Policy Committee or MPC. The MPC has decided to hold the policy rate - the Repo Rate - at 6.5%. The central bank has been pausing since February this year. It has hiked rates by 2.5% before the pause to rein in inflation. Mutual fund investors can invest more in mutual funds via e-mandates without AFA or Additional Factor of Authentication. The RBI governor Shaktikanta Das said on Friday that it is proposed to exempt the requirement of AFA for transactions up to Rs 1 lakh for the following categories like subscription to mutual funds, payment of insurance premium and payments of credit card bills.
