Today news
About the same in other media
RBI Wants Digital Currency Included Under Definition Of 'Bank Note', Proposes Amendment To Law
Reading now: 912
ndtv.comCBDCs -- digital or virtual currency -- are basically the digital version of fiat currencies.
New Delhi: The government on Monday said that it has received a proposal from the Reserve Bank of India (RBI) to include digital currency under the definition of a 'bank note'. In October, the RBI had introduced the proposal of Central Bank Digital Currency (CBDC).
CBDCs -- digital or virtual currency -- are basically the digital version of fiat currencies, for instance, rupee in India.
The Ministry of Finance, in a written reply in Lok Sabha, stated, "Introduction of CBDC has the potential to provide significant benefits, such as reduced dependency on cash, higher seigniorage due to lower transaction costs, reduced settlement risk."
It would also
Read more on ndtv.comAbout this in other media
Soon, RBI to launch new on-device wallet for small value UPI transactions, product for feature phones financialexpress.com /2 years ago
EMIs on home loans to remain unchanged as RBI maintains status quo on repo rate financialexpress.com /2 years ago
Realtors expect RBI to maintain status quo on key policy rates financialexpress.com /2 years ago
Show more
The website finance-news.co is an aggregator of news from open sources. The source is indicated at the beginning and at the end of the announcement. You can send a complaint on the news if you find it unreliable.
