News: A senior RBI official has said that the pilot launch of a new central bank currency could happen as early as the first quarter of next financial year. A lot of the ongoing debate on an Indian CBDC is focused on what RBI should do, and far less attention is paid to the equally… Continue reading Rumblings of the coming central bank digital currency
Tag: CBDC
Everything you want to know about CBDC
Source: Business Standard Relevance: CBDC, its potential impact, relevant suggestions Synopsis: The central bank digital currency will neither substitute nor compete with cryptocurrency; it’s just a wallet. An analysis of its inherent problems and a way forward. Contents1 Background2 About CBDC3 CBDC in India4 Impact of CBDC5 Concerns/Issues 6 Suggestions Background The RBI has been working… Continue reading Everything you want to know about CBDC
How e-RUPI can make welfare payments easier?
Source: Live Mint What is the news? Government of India recently launched e-RUPI which can make welfare payments easier and more efficient, and to an extent looks like the precursor of a Central Bank Digital Currency (CBDC). Must Read: What is e-RUPI and how does it work? What will e-RUPI be used for? The most… Continue reading How e-RUPI can make welfare payments easier?
Private partners could help RBI run a digital currency
Source: Livemint Relevance: Issues in the implementation of a retail CBDC Synopsis: A two-tiered model for retail issuance of CBDC should be implemented by India. Issues involved and the way forward. Contents1 Background2 What is a retail CBDC?3 Issues involved4 Global models5 Direct model6 Two-tiered model7 Direct model vs two-tiered model8 Global examples of two-tiered… Continue reading Private partners could help RBI run a digital currency
It’s time for digital currency to counter crypto, says RBI
Source: TOI What is the news? The Reserve Bank of India (RBI) has said that it is working towards a phased implementation strategy for its digital currency (i.e. Central Bank Digital Currency). Central banks across the world have drawn up plans to launch their digital currency to battle cryptocurrencies. China has said that its e-CNY… Continue reading It’s time for digital currency to counter crypto, says RBI
Cryptocurrencies and Indian regulations – Explained, pointwise
Source: Business Standard Syllabus: GS Paper 3: Indian Economy and issues relating to Planning, Mobilization of Resources Relevance: Cryptocurrencies have the potential to alter the Indian economy and challenge sovereign backing in India Contents1 Introduction2 What is Blockchain?3 Cryptocurrency regulations in India by RBI4 Government response to Cryptocurrencies4.1 Recommendations of the SC Garg Committee:5 What… Continue reading Cryptocurrencies and Indian regulations – Explained, pointwise
