A Bank for International Settlements survey shows that, compared to last yr, world economies seems more likely to issue Central Bank Digital Currency (CBDC) in medium term than short term.
The RBI's e-rupee uses blockchain distributed-ledger technology to substitute cash. The central bank is aiming for one million CBDC transactions each day by year's end.
The pilot will be launched in two phases, with State Bank of India, ICICI Bank, Yes Bank and IDC First Bank participating in the first phase across four cities in the country.
CBDCs have the potential to lead to greater financial inclusion, but a concept note issued by the Reserve Bank of India also rightly places emphasis on consumer protection.
FM Sitharaman, in her Budget speech, had announced that RBI will introduce Central Bank Digital Currency in next financial year to boost digital economy & currency management.
With the rising rate of cryptocurrency adoption worldwide, many countries like India have started to test the waters of digital currency by launching their own Central Bank Digital Currency (CBDC). But how does it work?
Three years into the war, Europe’s sanctions regime now resembles a policy of managed hypocrisy: Moral rhetoric for public consumption, exemptions for industrial preservation.
While global corporations setting up GCCs in India continue to express confidence in availability of skilled AI engineers, the panel argued that India’s real challenge lies elsewhere.
Without a Congress revival, there can be no challenge to the BJP pan-nationally. Modi’s party is growing, and almost entirely at the cost of the Congress.
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