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?
The test raises a question. Why have Russian nuclear strategists now invested in the Burevestnik, when the US abandoned nuclear ramjet propulsion in 1964?
Tajikistan did not want to extend the lease because of apparent pressure from Russia & China over non-regional military personnel at the air base, it is learnt.
On 21 Oct, a buzz went up that the govt had released full list of gallantry award recipients along with Op Sindoor citations. I put an AI caddy on the job. It took me into a never-ending rabbit hole.
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