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As per IMF1, India is one of the few countries across the globe which has an advanced digital payment infrastructure. India’s digital payment volume has increased at an average of 50% year on year, over the past 5 years. In the last financial year alone, the value of digital transactions amounted to 5.86 billion Rupees, … Read more
The Reserve Bank of India in conjunction with the International Monetary Fund (IMF) and Bank of International Settlements (BIS) is working on a project, e-Rupee to replace the cash notes with digital legal tender. Let’s explore the e-Rupee in detail below. What Exactly is the e-Rupee? e-Rupee or Digital Rupee is a legal tender issued … Read more
Wholesale CBDC is the digital version of the Central Bank money. It is used by financial institutions (that hold deposits with the central bank) to settle interbank transfers and wholesale transactions. It is envisioned to bring efficiency and stabilization to the financial ecosystem.1 Why Wholesale CBDC? The central bank money has two legs. The first … Read more
A Retail Central Bank Digital Currency (CBDC) is issued by the Central Bank to the general public for the sale and purchase of goods and services. It is a legal tender issued by the central bank in the form of digital currency intended only for retail users (for example to buy coffee or vegetables). This … Read more
A Central Bank Digital Currency (CBDC) is being envisioned to replace a major percentage of cash transactions across the world. China, for example, is very close to being a cashless society. As a result, banks are shutting down their branches and discouraging cash deposits and withdrawals in China, to encourage the use of the Chinese … Read more
A country’s federal government can either decide to control the minting and distribution of the CBDC alone or have a public private partnership to handle the operations effectively. Private players/financial institutions, therefore, shall have a significant role to play in the CBDC ecosystem. The early adopters shall be able to grab a bigger pie of … Read more
Countries researching CBDC need to be aware of the potential risks of CBDC to have perfect design before launching in the mainstream economy
CBDC, also called as Central Bank Digital Currency is the new world’s digital currency, issued by the Central Banks or Monetary Authority of a nation . To put it in simpler terms, CBDC is a legal tender in a digital form, issued by Central Banks, that can primarily be used to make payments. To further … Read more
Central Bank Digital Currency – CBDC is a digital form of currency, presented on a blockchain ledger. Whether a Central Bank Digital Currency – CBDC, acts as a boon or disaster for the financial ecosystem, purely depends on the functional and technical design of the CBDC. There is no universal design for a CBDC laid … Read more
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