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    Question

    The Union Budget announced the introduction of digital

    rupee. It will be launched by ___________.
    A NPCI Correct Answer Incorrect Answer
    B RBI Correct Answer Incorrect Answer
    C State Bank of India Correct Answer Incorrect Answer
    D HDFC Bank Correct Answer Incorrect Answer
    E an SPV by RBI & other Central Banks Correct Answer Incorrect Answer

    Solution

    The budget proposal mentions that the digital rupee will be introduced by the Reserve Bank of India (RBI) in FY 2022-23. A central bank digital currency (CBDC) is a digital currency that would be issued and overseen by a country’s central bank. Digital Rupee can have many uses, such as in programmable payments for subsidies and by financial institutions for quicker lending and payments.

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