RBI Act 1934, will be amended to enable it to issue the digital currency. Although Central Bank Digital Currency (CBDC) are conceptually no different from banknotes, introduction of CBDC would require an enabling legal framework since the current legal provisions are made keeping in mind currency in paper form. Under the Reserve Bank of India Act, 1934, the Bank is empowered to “…regulate the issue of bank notes and the keeping of reserves with a view to securing monetary stability in India and generally to operate the currency and credit system of the country to its advantage” (Preamble). The Reserve Bank derives the necessary statutory powers from various sections of the RBI Act – with respect to denomination (Section 24), form of banknotes (Section 25), status as legal tender (Sec 26(1)) etc.
A merchant employs an inaccurate weight of 800 grams instead of 1 kg when selling sugar. If he labels the sugar's price as 20% higher than its cost pric...
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A person buys 5 tables and 9 chairs for Rs15,400. He sells the tables at 10% profit and chairs at 20% profit. If his total profit on selling all the tab...
A costs twice as much as B. A is sold at a loss of 15% and B is sold at 5/4th of its price. If selling price of A is Rs. 1350 more than selling price of...
A shopkeeper planned to sell 150 shirts each priced at Rs 1,250 in a particular year. Each shirt, if it had been sold at the mentioned price would have ...
A shopkeeper claims to incur a loss of 20% but uses a weight of 640 grams in place of 1kg If the CP of the rice is Rs 80/kg , what will be the % of a...
A fruit seller sells mangoes at the rate of Rs.9 per kg and thereby loses 20%. At what price per kg, he should have sold them to make a profit ...
Vaibhav brought a pen for Rs.2000. He sold it to Ravi at a loss of 20%. Ravi had to earn some profit, so he sold it to Vikas at 10% profit. If Vikas has...
A shopkeeper sold an article at a discount of 13%. If he had given a discount of 7% in place of 13%, then he would have earned Rs. 108 more. If the cost...
