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Reserve Bank of India’s (RBI) digital rupee — the Central Bank Digital Currency (CBDC) — may be introduced in phases beginning with wholesale businesses in the current financial year. In her Budget speech on February 1, Finance Minister Nirmala Sitharaman had said that the central bank would launch the CBDC in the financial year 2022-23. According to the RBI, “CBDC is the legal tender issued by a central bank in a digital form. It is the same as a fiat currency and is exchangeable one-to-one with the fiat currency. Only its form is different”. The digital fiat currency or CBDC can be transacted using wallets backed by blockchain. Though the concept of CBDCs was directly inspired by Bitcoin, it is different from decentralised virtual currencies and crypto assets, which are not issued by the state and lack the ‘legal tender’ status.
In Operation Flood II and III how many districts were included?
Which bank has launched the ‘Xpress Car Loans’ of providing a 30-minute car loan for all existing customers and non customers?
The World’s largest pear shaped stainless diamond worth £ 13 million has been displayed in which country?
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Who articulated the 'Drain Theory', stating that the economic troubles of India were due to the constant drain of wealth to Britain?
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The Shanghai Cooperation Organization (SCO), established for deeper political and economic cooperation, was formed in 2001 by the leaders of the member ...