Focus on core banking a must: Sitharaman to banks at post-Budget RBI Board of Directors meeting

Finance Minister Nirmala Sitharaman urged banks to prioritize 'core banking' in a meeting with RBI's Central Board of Directors. The session reviewed budget provisions and the economic outlook after the 2024-25 Union Budget. The RBI kept the repo rate at 6.5%, forecasting a 7.2% economic growth rate for the fiscal year 2024-25.