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?
According to a statement by the airport, commercial operations likely to begin next year 'in view of the current construction status'. It was supposed to commence operations by 2024 end.
At interaction in Delhi Monday, Ambassador of Philippines also highlighted talks over possibility of high-level delegation visit later this year to mark 75 yrs of diplomatic ties.
Changed reality for Modi govt in its 3rd innings is by no means rise of a new phenomenon. It's a return to old normal where even majorities had to routinely wrestle with storied million mutinies.
COMMENTS