Question
The Reserve Bank of India’s ongoing pilot project for
the Central Bank Digital Currency (CBDC), known as the e-Rupee, handles retail transactions using which structural mechanism?Solution
The Reserve Bank of India is conducting pilot projects for the Central Bank Digital Currency (CBDC), known as the e₹ (e-Rupee). For retail CBDC (CBDC-R), the RBI uses a token-based architecture, where the digital currency functions similarly to physical cash. Ownership is determined by possession of the digital token rather than by maintaining an account balance. This ensures instant settlement and anonymity features that mirror physical currency notes, unlike account-based transactions.
In a repurchase agreement, the percentage difference between the repurchase price and amount borrowed is equal to:
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