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
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
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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