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 Introduction Cryptocurrencies are registering a spectacular rise globally. In India also, despite RBI’s strong reservations, investment in cryptocurrencies by Indians has been… 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
