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?
SEBI probe concluded that purported loans and fund transfers were paid back in full and did not amount to deceptive market practices or unreported related party transactions.
Many really smart people now share the position that playing cricket with Pakistan is politically, strategically and morally wrong. It is just a poor appreciation of competitive sport.
COMMENTS