Get Started with ixamBee
Start learning 50% faster. Sign in now
The Reserve Bank of India (RBI) launches the first pilot project for central bank digital currency (CBDC), also known as digital rupee or e-rupee. The first digital rupee pilot will be in the Wholesale segment and the central bank has identified nine banks to participate in commencing the first pilot. The nine banks are State Bank of India, Bank of Baroda, Union Bank of India, HDFC Bank, ICICI Bank, Kotak Mahindra Bank, Yes Bank, IDFC First Bank, and HSBC. The pilot project will focus on settlement of secondary market transactions for government securities. Central Bank Digital Currency (CBDC) is a digital form of legal tender issued by the RBI. India’s CBDC will be called ‘e₹’, and it can be exchanged one-for-one for fiat currency as it is a digital form of rupee. RBI Headquarters: Mumbai Governor: Shaktikanta Das 4 Deputy Governors: T. Rabi Sankar, MK Jain, MD Patra, M Rajeshwar Rao The Reserve Bank of India defines Central Bank Digital Currency (CBDC) as a digital form of legal tender issued by a central bank. Simply put, it is a digital form of fiat currency, i.e. The Indian Rupee. As a result, it can be exchanged for fiat currency one for one. CBDC will have all of the advantages that we see with cryptocurrencies and digital forms of payment like it can never be torn, burned, or physically damaged. They are also not physically lost. In comparison to notes, the lifeline of a digital form of currency will thus be indefinite.The Digital Rupee will bring with it another significant advantage in terms of cryptocurrencies which is that it will be governed by a central authority, reducing the volatility risk associated with other digital currencies such as Bitcoin.
A merchant sold an article at a loss of 12%. If the cost price was increased by 20% and the article was sold at a profit of 12%, find the percentage inc...
The cost price of 24 articles is the same as the selling price of x articles. If the profit is 20%, then the value of x is
A shopkeeper bought 60 kg of apples at ₹80 per kg and 40 kg of oranges at ₹60 per kg. If he wants to make a profit of 20% on the total cost, at what...
A shopkeeper purchased an item for Rs. 1,500. He increased the price by 20% over its cost price and then sold the item after offe...
Profit percentage received on a product when sold for Rs. 550 is equal to the percentage loss incurred when the same product is sold for Rs. 250. Find t...
A fruit seller bought some mangoes. By selling 50% of total mangoes he got a profit of equal to 50% of his overall cost and 80% of remaining mangoes he ...
A watch is sold at a profit of 20%. If both the cost price and selling price are reduced by Rs. 100, then the profit would be 5% more. Find the original...
After selling 20 pens, a Shopkeeper earn a profit of the selling price of 6 books. While selling 20 books, a shopkeeper losses a selling price of 8 pen...
A shirt is marked 30% above the cost price and sold after a discount of Rs.200 at Rs.398. Find the cost price of the shirt.
Three partners ‘A’, ‘B’ and ‘C’ started a business by investing in the ratio 2:5:6 respectively and the ratio of time for which they made th...
