India recognized digital currency at right time: Nischal Shetty, Founder and CEO WazirX to Kailashnath Adhikari,MD, Governance Now
3 years, 1 month ago

India recognized digital currency at right time: Nischal Shetty, Founder and CEO WazirX to Kailashnath Adhikari,MD, Governance Now

ABP News  

New Delhi: With the finance minister, Nirmala Sitharaman announcing the launch of Digital Rupee by RBI in 2022 to boost the Indian economy while presenting the Union Budget 2022-23 she said the digital currency will also lead to a more efficient and cheaper currency management system. India has recognized digital currency at the right time he said adding the country is going the route of launching the CBDC and it should do it fast. The software developer turned entrepreneur said that with the announcement of India’s own CBDC or Digital rupee by the finance minister in the budget specially mentioning the term Blockchain, adoption and education of the technology will skyrocket the day RBI releases it due to the fact that it is government-powered education of crypto. There will be a time period for currencies to become global digital currencies and dollars are ahead right now they have allowed private players to form their stable coins backed by the dollar but India is going the route of launching the CBDC and it should do it fast.” Nischal was in a webinar with Kailashnath Adhikari, MD Governance Now as part of the Visionary Talk series held by the public policy and governance analysis platform. The early banks are going to become large players in the industry and then the industry will not have interest in switching banks later if payment gateways are working fine.” While speaking on the government announcing 30% taxation on cryptocurrency income and what are the expectations from the government, he said a large proportion of people in India earn income in less 30% bracket and even with crypto for the government to expand the ambit of people paying income tax may be a good idea.

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History of this topic

Pakistan Moves To Legalise Cryptocurrency To Attract Foreign Investment. Will India Follow Suit?
5 days, 6 hours ago

Pakistan Moves To Legalise Cryptocurrency To Attract Foreign Investment. Will India Follow Suit?

ABP News  

Pakistan is making strides toward embracing digital assets by setting the stage for cryptocurrency legalisation. With more nations establishing cryptocurrency regulations, Pakistan’s initiative could position it as a key player in the digital finance sector. Pakistan Crypto Council to Oversee Digital Asset Integration To facilitate the transition, the Pakistan government has reportedly launched the Pakistan Crypto Council, a newly formed …

Realign policies of RBI to changing economic realities
2 weeks, 2 days ago

Realign policies of RBI to changing economic realities

New Indian Express  

Under the new leadership, the Reserve Bank of India is ‘undoing’ some of the measures taken during the previous regime to allow the banking system to breathe easy. By the time Sanjay Malhotra took the reins of the central bank from Shaktikanta Das in December last year, India’s growth had slowed down to 5.6 percent, and the equity market was …

RBI unveils exclusive ‘bank.in’ internet domain to combat cyber fraud; 'fin.in' coming soon
1 month, 2 weeks ago

RBI unveils exclusive ‘bank.in’ internet domain to combat cyber fraud; 'fin.in' coming soon

Firstpost  

The registration process for the ‘bank.in’ domain will begin in April, with a broader ‘fin.in’ domain planned for the overall financial sector in the future RBI Governor Sanjay Malhotra says cybersecurity is a top priority for the central bank. AFP The Reserve Bank of India on Friday announced a new exclusive internet domain, ‘bank.in,’ for Indian banks to enhance cybersecurity …

I will think about India: Nirmala Sitharaman as Trump 2.0 goes big on crypto
1 month, 3 weeks ago

I will think about India: Nirmala Sitharaman as Trump 2.0 goes big on crypto

India Today  

Finance Minister Nirmala Sitharaman on Tuesday clarified that the government is not against distributed ledger technology. At the Budget Round Table 2025 event organised by India Today and Business Today, Sitharaman did not clearly mention any policy related to cryptocurrencies or VDAs. When mentioned that 97% of the country’s crypto trading has shifted offshore, which has led to a loss …

India's Crypto Policy Delayed Further? Report Suggests Re-Evaluation Of Stances By Multiple Jurisdictions
1 month, 3 weeks ago

India's Crypto Policy Delayed Further? Report Suggests Re-Evaluation Of Stances By Multiple Jurisdictions

ABP News  

India is re-evaluating its position on cryptocurrencies following recent international developments, including regulatory changes in major economies, according to a senior Government official, reported Reuters. The decision comes as multiple jurisdictions have softened their stance on digital assets, prompting India to revisit its delayed discussion paper on crypto policy, which was initially expected to be released in September 2024. Crypto …

India reviewing crypto position due to global changes, senior official says
1 month, 3 weeks ago

India reviewing crypto position due to global changes, senior official says

The Hindu  

India is reviewing its stance on cryptocurrencies due to shifting attitudes towards the virtual asset in other countries, a senior government official told Reuters on Sunday. He did not specifically mention the United States, where Mr. Trump last week ordered the creation of a cryptocurrency working group tasked with proposing new digital asset regulations and exploring the creation of a …

Government is reportedly thinking about changing its stance on cryptocurrency
1 month, 3 weeks ago

Government is reportedly thinking about changing its stance on cryptocurrency

India Today  

India has a rigid cryptocurrency environment, and its stance on the digital currency has been anything but consistent. In December 2023, the Financial Intelligence Unit in India issued show-cause notices to 9 offshore crypto exchanges, including Binance and Kucoin, for non-compliance with local regulations. In 2023, former RBI Governor Shaktikanta Das also represented a critical stand against cryptocurrency in India. …

Interview: Yesha Yadav on ABC of Donald Trump’s new crypto world
2 months ago

Interview: Yesha Yadav on ABC of Donald Trump’s new crypto world

Hindustan Times  

Washington: President-elect Donald Trump has promised a new era of cryptocurrency, with the industry expecting clearer and a more liberal regulatory structure. And what has happened over time is of course that Bitcoin as well as other cryptocurrencies have allowed for certain economies where the local marketplace is perhaps not as strong, where people don’t have faith in the domestic …

Rupee-backed stablecoins could complement RBI’s digital currency
2 months, 3 weeks ago

Rupee-backed stablecoins could complement RBI’s digital currency

Live Mint  

The past decade has witnessed the astronomical rise of crypto assets around the world. Rupee-backed stablecoins would complement the Reserve Bank of India’s Central Bank Digital Currency, namely the e-rupee that is being tested out. However, the combination of rupee-backed stablecoins and the e-rupee could aid in the creation of an egalitarian and free digital finance ecosystem in India. As …

Governments and banks once mocked Bitcoin. Now they want in on it
3 months ago

Governments and banks once mocked Bitcoin. Now they want in on it

Al Jazeera  

After topping $100,000, Bitcoin supporters see the cryptocurrency soaring even higher. Despite once labelling Bitcoin “a scam”, Trump has emerged as arguably the world’s most powerful advocate for the asset. “There’s now this growing feeling that the 21st century will be the century of Bitcoin.” Keiser spotted Bitcoin’s potential early on and advised people to buy it when its value …

Why Shaktikanta Das was rated among world’s top central bankers, 6 big feats in 6 years
3 months, 2 weeks ago

Why Shaktikanta Das was rated among world’s top central bankers, 6 big feats in 6 years

Firstpost  

Shaktikanta Das’s tenure as RBI governor ended today. Das also hoped that Malhotra would carry forward RBI initiatives such as the Central Bank Digital Currency and unified lending interface and promote financial inclusion. ‘RBI, Finance Ministry perspectives can differ at times’ Das said that during his tenure as the RBI governor, there was a productive and cooperative relationship between India’s …

Shaktikanta Das: Six major policy decisions in six years as RBI Governor
3 months, 2 weeks ago

Shaktikanta Das: Six major policy decisions in six years as RBI Governor

India TV News  

Outgoing Reserve Bank of India Governor Shakti Kant Das has guided the country’s monetary policy through turbulent times during his six-year tenure. The central bank also announced a monetary policy including a Targeted Long-Term Repo Operations of Rs 1 lakh crore aimed at supporting critical sectors like MSMEs and NBFCs. Indian digital currency revolution Under Das’s leadership, India made significant …

India on the sidelines as the future of finance dawns
4 months ago

India on the sidelines as the future of finance dawns

Hindustan Times  

In the Trumpian world, bitcoin is soaring. Blockchain is the foundation of cryptocurrencies like Bitcoin but its potential stretches far beyond speculative trading enabling tamper-proof voting systems, transparent supply chains, and decentralized finance. Meanwhile, India’s regulations are so draconian that exchanges like Coinbase won’t even let Indian users buy crypto. Enter Central Bank Digital Currencies, the government’s answer to cryptocurrencies. …

Bitcoin, cryptocurrencies not legal in India
Trending News
4 months ago

Bitcoin, cryptocurrencies not legal in India

Deccan Chronicle  

New Delhi: Bitcoin and cryptocurrency are in news again after allegations were levelled against Congress's Maharashtra president Nana Patole and NCP 's Supriya Sule of being involved in "illegal bitcoin activities" to fund their poll campaign. - Cryptocurrency has no intrinsic value and is not redeemable for another commodity, such as gold - has no physical form and exists only …

Will Bitcoin's revival boost India's appetite for cryptos despite high taxes?
4 months, 1 week ago

Will Bitcoin's revival boost India's appetite for cryptos despite high taxes?

India Today  

Bitcoin has taken the financial world by storm once again, this time surging to a record-breaking $90,000 following Donald Trump's unexpected victory in the US presidential election. TRUMP'S IMPACT ON THE CRYPTO SURGE The crypto market has been riding a wave of optimism following Donald Trump's election as US president, with hopes that his administration will adopt a crypto-friendly stance. …

India at the Forefront of Digital Revolution: RBI’s Patra
4 months, 1 week ago

India at the Forefront of Digital Revolution: RBI’s Patra

Deccan Chronicle  

Mumbai: India is at the forefront of the digital revolution and financial technology is speeding up digital payments, the Reserve Bank of India Deputy Governor Michael Debabrata Patra said on Wednesday. Patra in his inaugural address at the DEPR Conference on 'Digital Technology, Productivity and Economic Growth in India' said that the country is uniquely positioned to unlock new growth …

India's crypto industry expects Bitcoin surge to boost domestic business
4 months, 1 week ago

India's crypto industry expects Bitcoin surge to boost domestic business

Live Mint  

New Delhi: India’s battered cryptocurrency industry, which has seen retail trading volumes decline by over 90% in the past three years, is cautiously optimistic about the industry’s latest surge. “The exchange-traded funds in the US have further rationalized cryptocurrency investments around the world, and the US’s pro-cryptocurrency stance could boost a more favourable policy approach around the world including in …

Transforming India's Economy: The Power of Digital Public Infrastructure
5 months ago

Transforming India's Economy: The Power of Digital Public Infrastructure

Live Mint  

The article highlights the importance of digitalization in transforming India's economy. It emphasizes the role of open platforms and collaboration between the public and private sectors in building a robust digital infrastructure. The government's initiatives, such as the Unified Payments Interface (UPI) and the Open Network for Digital Commerce (ONDC), demonstrate the government's commitment to fostering a digital economy.

Bengaluru auto driver gains social media fame for accepting cryptocurrency
7 months ago

Bengaluru auto driver gains social media fame for accepting cryptocurrency

New Indian Express  

In Bengaluru, a city celebrated for its tech-savvy culture, a local auto-rickshaw driver has captured widespread attention by accepting cryptocurrency as payment for rides. His forward-thinking approach was spotlighted in a viral social media post shared on August 18, featuring a photo of the driver standing beside his auto-rickshaw, proudly displaying a sign that reads, “We accept cryptocurrency.” The post …

RBI’s Digital Rupee: Google, PhonePe, Amazon Pay, Cred, and Mobikwik To join digital currency pilot project
7 months, 2 weeks ago

RBI’s Digital Rupee: Google, PhonePe, Amazon Pay, Cred, and Mobikwik To join digital currency pilot project

The Hindu  

Google, PhonePe, Amazon Pay, Cred and Mobikwik are looking to join Indian central bank’s digital currency project by offering transactions in e-rupee, a digital alternative to the physical currency. The news comes as transactions using the digital currency reached over a million a day last year, however, they have declined ever since, to about 100,000-200,000 a day. However, in April …

RBI’s digital rupee must leap over many hurdles for wider adoption
9 months, 1 week ago

RBI’s digital rupee must leap over many hurdles for wider adoption

Live Mint  

The Reserve Bank of India has been striving to boost the adoption of its Retail-Central Bank Digital Currency or e-rupee. RBI is also aiming to onboard more non-bank payment service operators and make the e-rupee inter-operable with India’s Unified Payments Interface. Despite having clearly defined use-cases for their country-specific CBDCs, these pilot projects suffered from weak internet connectivity and poor …

RBI To Make Digital Currency Available Offline
10 months, 2 weeks ago

RBI To Make Digital Currency Available Offline

Deccan Chronicle  

Mumbai: The Reserve Bank of India Governor Shaktikanta Das on Monday said the central bank is considering testing Central Bank Digital Currency in commercial papers and certificates of deposits on a pilot basis. Das said that the central bank has been working on making CBDC transferable offline, introducing programmability features and promoting financial inclusion. “We are working on making CBDC …

Spence lauds India’s growth at varsity event
1 year, 1 month ago

Spence lauds India’s growth at varsity event

Hindustan Times  

India has developed the best digital economy and financial architecture in the world, said Nobel laureate Michael Spence during a panel discussion at Bennett University. Michael Spence “As somebody who has spent the last 25 years thinking about growth in one form or another in virtually every corner of the world, let me just say that the major economy with …

Crypto currencies have no underlying value, says RBI official
1 year, 1 month ago

Crypto currencies have no underlying value, says RBI official

The Hindu  

Crypto currencies cannot be referred to as "currencies" as they have no underlying value, a central bank official said. "Crypto currencies cannot be called currencies as they don't have any underlying value," P Vasudevan, an executive director at the RBI, said during a panel discussion organised by IIM-Kozhikode here. Ultimately it is a call that the government has to take …

Central Bank Digital Currencies Are Redefining Digital Money
1 year, 1 month ago

Central Bank Digital Currencies Are Redefining Digital Money

The Quint  

The Reserve Bank of India, in a forward-looking move, decided to extend the pilot program for the digital rupee. This extension reflects the central bank’s commitment to exploring and harnessing the potential of central bank digital currencies. Private players who dominate the digital payments market have simplified life for the world population with innovations like e-money, online transactions, mobile banking, …

RBI Monetary Policy: New changes announced to electronic trading platforms, digital payments
1 year, 1 month ago

RBI Monetary Policy: New changes announced to electronic trading platforms, digital payments

New Indian Express  

The Reserve Bank of India today released a major policy statement outlining several developmental and regulatory initiatives covering financial markets, regulations pertaining to lending institutions, and payment systems including digital currency and fintech. On the financial markets front, RBI announced that it will comprehensively review the existing regulatory guidelines for Electronic Trading Platforms that enable transactions in financial instruments regulated …

India need not rush in where the US dares to go
1 year, 2 months ago

India need not rush in where the US dares to go

Hindustan Times  

On January 10, the US securities market regulator, the Securities and Exchange Commission allowed 11 spot Bitcoin exchange-traded funds to list and trade on the stock market. In a statement issued the day he cleared the Bitcoin ETFs, he wrote: “Though we’re merit neutral, I’d note that the underlying assets in the metals ETFs have consumer and industrial uses, while …

India's Financial Intelligence Unit Registers Over Two Dozen Crypto Service Providers
1 year, 3 months ago

India's Financial Intelligence Unit Registers Over Two Dozen Crypto Service Providers

ABP News  

In a notable development for the Indian cryptocurrency sector, over two dozen digital currency service providers have registered with India's Financial Intelligence Unit. Here are some key case studies and developments: Enforcement Directorate's Proactive Measures India's Enforcement Directorate has been actively investigating several money laundering cases through cryptocurrencies. Regulatory Framework Strengthening India has subjected cryptocurrency trading to anti-money laundering laws, …

RBI likely to start digital rupee pilot in call money market by next month
1 year, 6 months ago

RBI likely to start digital rupee pilot in call money market by next month

India TV News  

The Reserve Bank of India is likely to introduce the pilot of the Central Bank Digital Currency for transactions for the interbank borrowing or call money market by October, said central bank Executive Director Ajay Kumar Choudhary on Sunday. The pilot for the wholesale Central Bank Digital Currency known as the Digital Rupee-Wholesale was launched on November 1, 2022. RBI …

Digital Rupee CBDC RBI Governor Shaktikanta Das Can Prove To Be Game Changer For Cross-Border Payments:
1 year, 6 months ago

Digital Rupee CBDC RBI Governor Shaktikanta Das Can Prove To Be Game Changer For Cross-Border Payments:

ABP News  

In a recent keynote address at the G20 TechSprint Finale, Reserve Bank of India Governor Shaktikanta Das drew attention to the challenges surrounding cross-border payments, emphasising the issues of high costs and slow transaction speeds. Das indicated that the central bank digital currency — dubbed Digital Rupee — instant-settlement feature could offer a viable solution to these challenges. Despite advancements …

Future Of Crypto In India: How Bitcoin ETFs, Regulatory Clarity Can Help
1 year, 6 months ago

Future Of Crypto In India: How Bitcoin ETFs, Regulatory Clarity Can Help

ABP News  

In recent times, the cryptocurrency industry has undergone a noteworthy transformation, evolving from a limited group of developers to a community that has fostered a trillion-dollar economy. By integrating cryptocurrencies into the existing anti-money laundering framework, India aims to enhance financial transparency and mitigate the risks associated with illicit activities in the crypto sector. The introduction of Bitcoin ETFs could …

Crypto India Tax PMLA State Future Regulation RBI CBDC Digital Rupee ABP Live TV
1 year, 6 months ago

Crypto India Tax PMLA State Future Regulation RBI CBDC Digital Rupee ABP Live TV

ABP News  

Crypto is often called the "Internet of Value" and for good reason. Here’s Why Crypto Could Prove Important To India Remittances: A Game Changer India holds the global top spot for remittance receipts, raking in approximately $80 billion annually. Crypto and decentralised technologies are not merely optional but vital to safeguarding India's national sovereignty. Enterprise Adoption A consortium of 15 …

Rising Stars of India's Crypto Revolution: Top 5 Crypto Projects to Trust in 2023
1 year, 7 months ago

Rising Stars of India's Crypto Revolution: Top 5 Crypto Projects to Trust in 2023

ABP News  

New Delhi, August 21: A revolution is underway in India's crypto landscape, and at its helm is a group of rising stars — projects that are reimagining traditional systems and catalyzing a paradigm shift in the nation's digital transformation. As the Indian counterpart of the world's second-largest derivatives exchange, Bybit India entices high-value traders, cementing its essential role in India's …

Digital Rupee: RBI Aims To Expand Use Cases, Features Of Retail, Wholesale CBDC
1 year, 9 months ago

Digital Rupee: RBI Aims To Expand Use Cases, Features Of Retail, Wholesale CBDC

News 18  

The Reserve Bank of India targets to expand the use cases and features of CBDC-Retail and CBDC-Wholesale, according to the central bank’s annual report released on Tuesday. “During 2023-24, the Reserve Bank aims at expanding the ongoing pilots in CBDC-Retail and CBDC-Wholesale by incorporating various use cases and features. “As the Reserve Bank embarks upon the journey of realising the …

Digital Rupee: RBI launches expand e-Rupee pilot to include more banks
1 year, 9 months ago

Digital Rupee: RBI launches expand e-Rupee pilot to include more banks

Live Mint  

The Reserve Bank of India wants to expand the ongoing pilot of the Central Bank Digital Currency and incorporate various use cases and features in 2023-24. In its annual report for 2022-2023, the central bank said, "During 2023-24, the Reserve Bank of India aims at expanding the ongoing pilots in CBDC-Retail and CBDC-Wholesale by incorporating various use cases and features." …

Understanding the current state of crypto assets in India
1 year, 11 months ago

Understanding the current state of crypto assets in India

Live Mint  

It is a sweeping wave for some and a conundrum for others but crypto is the new buzzword in the world of investment finance. On the whole, the government seems to be accepting crypto and the underlying blockchain technology rather than casting them away as ‘risky’ or even ‘banning’ them. Banking is still not a breeze given RBI’s concerns The …

RBI asks banks, NBFCs to promote digital payments
2 years ago

RBI asks banks, NBFCs to promote digital payments

The Hindu  

The Reserve Bank of India has unveiled “Har Payment Digital” as part of Digital Payments Awareness Week 2023 to make every person in India a user of digital payments. Stating that payment systems in India have witnessed over 1000 crore transactions every month since December 2022, he said “This speaks volumes of the robustness of our payments ecosystem and acceptance …

'Net' Gains: Digital Transactions in India in 2022-23 Break All Records
2 years, 1 month ago

'Net' Gains: Digital Transactions in India in 2022-23 Break All Records

News 18  

The number of digital transactions in India in this financial year is at a historic high, zooming past the last fiscal’s figure with still three months to go. The latest government data reveals that 9,192 crore digital transactions have been done in the country in this financial year till December 31, 2022. The total value of digital transactions in India …

Reliance Retail partners Innoviti to enable digital rupee payment in stores
2 years, 1 month ago

Reliance Retail partners Innoviti to enable digital rupee payment in stores

Live Mint  

New Delhi: Innoviti Technologies, a payments-focused financial-tech firm, in collaboration with Reliance Retail, ICICI Bank and Kotak Mahindra Bank, on Thursday announced the introduction of in-store payments via Digital Rupee-Retail. “After being the first to introduce dynamic QR based in-store UPI payments, Reliance Retail, in continuance of its endeavour to create convenient and seamless payment experience for customers, becomes the …

Centre made cash transfer of ₹2.2 lakh crore under PM-KISAN scheme: FM Nirmala Sitharaman - The Hindu
2 years, 1 month ago

Centre made cash transfer of ₹2.2 lakh crore under PM-KISAN scheme: FM Nirmala Sitharaman - The Hindu

The Hindu  

The government made cash transfer of ₹2.2 lakh crore under the PM-KISAN scheme, Finance Minister Nirmala Sitharaman said on February 1. Presenting the last full Union Budget 2023 of the second term of the BJP-led NDA government ahead of the general elections in 2024, she said the mission of the government is to achieve knowledge-driven economy. Institutional credit in agriculture …

Union budget 2023: FM Sitharaman lauds strides made in digital payments
2 years, 1 month ago

Union budget 2023: FM Sitharaman lauds strides made in digital payments

Hindustan Times  

The Indian economy has become more formalised as witnessed by a significant enhancement in digital payments, Union finance minister Nirmala Sitharaman on Wednesday said during her budgetary speech in the Parliament. She commended the enhancement in brought in digital payments over the years and noted that around 7,400 crore digital payments worth ₹126 lakh crore were made through UPI in …

Budget 2023: FM Sitharaman's past key budget announcements on banking
2 years, 1 month ago

Budget 2023: FM Sitharaman's past key budget announcements on banking

Hindustan Times  

Finance Minister Nirmala Sitharaman on February 1 will present the Union Budget for the fiscal year 2023-24. Budget 2019-20 In her first Union Budget as Finance minister, Nirmala Sitharaman announced to re-capitalise Public Sector Banks of ₹70,000 crore to boost credit which was part of previously announced ₹3 lakh crore capital infusion. Budget 2021-22 The budget of 2021-22 proposed setting …

Budget 2023: FM Nirmala Sitharaman must classify cryptocurrencies as asset class rather than speculative instruments
2 years, 1 month ago

Budget 2023: FM Nirmala Sitharaman must classify cryptocurrencies as asset class rather than speculative instruments

Firstpost  

Cryptocurrencies have been gaining momentum worldwide for the past two years, making big headlines. Tax on VDAs The Union Budget of India in 2022 has introduced a system of taxation on virtual digital assets with a 30 percent tax on gains and 1 percent on Tax Deducted at Source. Need for a progressive approach to taxation The crypto industry is …

In a first, Anand Mahindra buys fruit using India’s digital currency ‘e-rupee’; shows how it works
2 years, 1 month ago

In a first, Anand Mahindra buys fruit using India’s digital currency ‘e-rupee’; shows how it works

Firstpost  

The industrialist bought pomegranates from the vendor and settled the payment with digital money. He also informed that Bachche Lal Sahani, a local fruit seller, happened to be one of the first merchants to accept ‘e-rupee’ transactions New Delhi: Business tycoon Anand Mahindra recently used India’s digital currency– the ‘e-rupee’ or ‘e-R,’ to buy fresh fruit from a local vendor. …

Watch: Anand Mahindra buys fruits using e-rupee
2 years, 1 month ago

Watch: Anand Mahindra buys fruits using e-rupee

Live Mint  

India’s central bank – the Reserve Bank of India introduced e-rupee digital currency pilot on December 1, 2022. Mahindra & Mahindra chairperson Anand Mahindra has recently shared a video on microblogging site Twitter where the billionaire can be seen putting the digital currency to use. “At the Reserve Bank’s board meeting today I learned about the @RBI digital currency-the e-rupee. …

Anand Mahindra buys fruit using India's digital currency e-rupee, shows how it works in video
2 years, 1 month ago

Anand Mahindra buys fruit using India's digital currency e-rupee, shows how it works in video

India Today  

Digital payments are the quickest way to settle balances and the most hassle-free as well. Anana Mahindra buys fruit using e-rupee Sharing the video of using the e-rupee to make payment to the fruit vendor, Anand Mahindra wrote, "At the Reserve Bank’s board meeting today I learned about the @RBI digital currency-the e-rupee. How the digital rupee works The video …

Digital currency to further bolster digital economy, make payment system more efficient: RBI
2 years, 2 months ago

Digital currency to further bolster digital economy, make payment system more efficient: RBI

India TV News  

RBI Executive Director Ajay Kumar Choudhary on Wednesday the digital currency will further bolster the digital economy, make the payment system more efficient and reduce the cost involved in physical cash management. Central Bank Digital Currency The RBI has already launched pilots of CBDC in wholesale and retail segments last year. He said the key motivation for exploring the issuance …

India records more digital payments than US, UK, Germany & France: Vaishnaw
2 years, 2 months ago

India records more digital payments than US, UK, Germany & France: Vaishnaw

Hindustan Times  

Union minister Ashwini Vaishnaw on Friday said India's digital payments transactions last year exceeded those of the combined digital payments of United States, United Kingdom, Germany and France, ANI reported. "In December 2022, the digital payments transactions amounted to $1.5 trillion annualised basis. If you compare total digital transactions in US, UK, Germany and France and combine them, India's figures …

E-Rupee Cannot Be Converted Into Cash Yet, Says RBI Official
2 years, 2 months ago

E-Rupee Cannot Be Converted Into Cash Yet, Says RBI Official

News 18  

Speaking at an event organised by the Indian Merchants’ Chamber, Anuj Ranjan, the chief general manager at the RBI’s fintech department, said that at present eRupee cannot be transformed into cash and vice-versa. Anuj Ranjan said that the central bank will bear costs relating to eRupee as it is part of RBI’s liabilities. One such currency is the digital Yuan …

Digital Rupee: Understanding the risks of using digital currency
2 years, 2 months ago

Digital Rupee: Understanding the risks of using digital currency

Live Mint  

Digital currency is essentially a replacement of conventional paper currency by currency in the form of digital data on a technology-based platform on a mobile device or otherwise. According to Stas Protassov, Co-founder and executive board member, Acronis, one of the risks which exist for most if not all digital currencies is double-spending scams exploiting protocol issues or application software …

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