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
Tag: National Digital Currency
A system of shared IDs can globalize digital currencies
Relevance: Digital currencies are gaining global attention. Even an inter-ministerial committee (IMC) suggested to introduce National Digital Currency under the RBI. Synopsis: The major countries of the world are planning to issue their respective digital currencies whose success depends on the degree of global acceptance and transferability. Background: Digital Currency is a direct claim on a central bank, like regular cash. FedCoin,… Continue reading A system of shared IDs can globalize digital currencies
