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Articles for Cbdc, search results for 2022

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

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Shaktikanta Das: Six major policy decisions in six years as RBI Governor
2 weeks, 1 day 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 …

Financial Inclusion Digital Payments Indian Bank Digital Cent Rbi
RBI To Make Digital Currency Available Offline
7 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 …

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RBI likely to start digital rupee pilot in call money market by next month
1 year, 3 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 …

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CBDC Pilot Expanded, To Include More Banks And Locations, Says RBI
1 year, 6 months ago

CBDC Pilot Expanded, To Include More Banks And Locations, Says RBI

ABP News  

The Reserve Bank of India on Tuesday said the scope of the Central Bank Digital Currency pilot is being expanded gradually to include more banks and locations. The pilot began with four banks -- State Bank of India, ICICI Bank, Yes Bank and IDFC First Bank -- while four other banks -- Bank of Baroda, Union Bank of India, HDFC …

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Digital Rupee: RBI Aims To Expand Use Cases, Features Of Retail, Wholesale CBDC
1 year, 6 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 …

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Digital Rupee: RBI launches expand e-Rupee pilot to include more banks
1 year, 6 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." …

Bank Digital Rbi Rupee Pilot Cbdc Digital Rupee
Digital currency to further bolster digital economy, make payment system more efficient: RBI
1 year, 11 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 Digital Digital Currency Currency Digital Economy Payment Rbi
Government, RBI in discussion with South Asian countries for cross-border rupee trade: Shaktikanta Das
1 year, 11 months ago

Government, RBI in discussion with South Asian countries for cross-border rupee trade: Shaktikanta Das

The Hindu  

RBI Governor Shaktikanta Das on January 6, 2023 said the government and the central bank are in discussion with South Asian countries to have cross-border trade in rupee. We are already in discussion with some of the countries in this region and to facilitate rupee settlement of cross border trade in the South Asian region," Mr. Das said. Mr. Das …

Policy Growth Trade South Asia Settlement Region Asian
From metaverse to 5G: Tech that shaped 2022
1 year, 11 months ago

From metaverse to 5G: Tech that shaped 2022

Live Mint  

NEW DELHI :This year was a mixed bag for the tech industry. Claims of Google LaMDA becoming sentient and the buzz around the public release of the artificial intelligence -powered chatbot called ChatGPT also created quite a stir. If the International Semiconductor Consortium gets the Indian government’s sanction to set up a wafer fab in India, chipmaker Intel, too, will …

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India's First CBDC, FTX Fiasco, LUNA Meltdown: Crypto Events That Defined 2022
2 years ago

India's First CBDC, FTX Fiasco, LUNA Meltdown: Crypto Events That Defined 2022

ABP News  

2022 has been a particularly eventful year for the crypto sector. Here’s a quick look at some of the major crypto events that made headlines in 2022: India announces crypto tax Cryptocurrencies, non-fungible tokens, and similar entities are clubbed under virtual digital assets in the country and face a stringent taxation structure as part of the new regime that came …

India Digital Rbi Rupee Luna Binance Ethereum
RBI had to ensure recovery took hold before acting on inflation, says Das
2 years, 1 month ago

RBI had to ensure recovery took hold before acting on inflation, says Das

The Hindu  

A day before writing to the government detailing reasons for the central bank’s protracted failure to keep inflation below 6% as mandated by law, RBI Governor Shaktikanta Das on Wednesday asserted that while there had been slippage in the inflation trajectory, any premature policy tightening could have proved costly for the economy and the people of India. “We did not …

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RBI Launches First Pilot of Digital Rupee; What is CBDC, How is it Different from Cryptocurrency?
2 years, 1 month ago

RBI Launches First Pilot of Digital Rupee; What is CBDC, How is it Different from Cryptocurrency?

News 18  

The Reserve Bank of India will roll out the digital rupee — the Central Bank Digital Currency — today. “…the first pilot in the Digital Rupee – Wholesale segment shall commence on November 1, 2022,” the RBI said in a statement on ‘Operationalisation of Central Bank Digital Currency-Wholesale Pilot’. It also announced that the first pilot in Digital Rupee – …

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RBI to launch India’s first digital rupee project: What is a CBDC and how will it work?
2 years, 1 month ago

RBI to launch India’s first digital rupee project: What is a CBDC and how will it work?

Firstpost  

The Reserve Bank of India will roll out the digital rupee for the wholesale segment today as part of its pilot project. The digital rupee will give a big boost to the economy and positively change the banking scenario of the country After months of talks and rumours swirling, the Reserve Bank of India will roll out the digital rupee …

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RBI Digital Rupee pilot for wholesale segment from November 1
2 years, 1 month ago

RBI Digital Rupee pilot for wholesale segment from November 1

The Hindu  

The first pilot in the Digital Rupee, Wholesale segment will commence on November 1, 2022, the Reserve Bank of India said in a circular. Settlement in central bank money would reduce transaction costs by pre- empting the need for settlement guarantee infrastructure or for collateral to mitigate settlement risk,” the circular said. The first pilot in Digital Rupee — Retail …

India Bank Rupee Pilot Cbdc Digital Rupee Rbi Digital
RBI to adopt graded approach to introduce digital currency
2 years, 6 months ago

RBI to adopt graded approach to introduce digital currency

Firstpost  

The RBI said that it has been exploring the pros and cons of the introduction of Central Bank Digital Currency in India and the appropriate design elements of CBDCs that could be implemented with little, or no disruption are under examination New Delhi: The Reserve Bank of India on Friday said that it is proposing to adopt a graded approach …

India Monetary Policy Bank Digital Currency Currency Financial Stability Rbi
Nuanced, calibrated approach essential for introduction of CBDC, says RBI’s Sankar
2 years, 8 months ago

Nuanced, calibrated approach essential for introduction of CBDC, says RBI’s Sankar

The Hindu  

Reserve Bank of India Deputy Governor T. Rabi Sankar on Thursday said a nuanced and calibrated approach is essential for the introduction of India's maiden digital currency as it would have various implications for the economy and monetary policy. "Given the large number of uncertainties in terms of which model works, which design works well in terms of its impact …

India Monetary Policy Digital Currency Central Rbi System
Rajya Sabha updates | March 15, 2022
2 years, 9 months ago

Rajya Sabha updates | March 15, 2022

The Hindu  

On the first day of the second part of the Budget session, members of the Upper House saw took up a discussion on the working of the Ministry of Development of North Eastern Region. Under the GST law, states were guaranteed a bi-monthly compensation for any loss of revenue incurred during the first five years of the implementation of GST …

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Explained: RBI’s digital currency plans
2 years, 10 months ago

Explained: RBI’s digital currency plans

The Hindu  

The story so far: In the Budget presented for 2022-23, Finance Minister Nirmala Sitharaman had announced the introduction of India’s Central Bank Digital Currency and that the digital rupee would give a ‘big boost’ to digital economy. Central banks also believe that the cost of issuing digital currencies is far lower than the cost of printing and distributing physical cash. …

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India's official digital currency likely to debut by early 2023, says top government source
2 years, 10 months ago

India's official digital currency likely to debut by early 2023, says top government source

Firstpost  

He said the digital currency issued by the RBI would be numbered in units, just like every fiat currency has an unique number New Delhi: India’s very own official digital currency is likely to debut by early 2023, which will mirror any of the currently available private company-operated electronic wallets, but with a change that it will be a sovereign-backed …

India Bank Digital Digital Currency Currency Rbi Private
India's digital currency to debut by early 2023: Government source
2 years, 10 months ago

India's digital currency to debut by early 2023: Government source

India TV News  

India's very own official digital currency is likely to debut by early 2023, which will mirror any of the currently available private company-operated electronic wallets, but with a change that it will be a sovereign-backed facility, a top government source said. A top government source, who wished not to be identified said, the digital currency issued by the RBI would …

India Central Bank Digital Currency Currency Rbi Private Source
30% tax on cryptocurrency: India’s plunge in the realm of digital currency
2 years, 10 months ago

30% tax on cryptocurrency: India’s plunge in the realm of digital currency

Op India  

The exponential growth of the cryptocurrency in India was just a phenomenon until it was given a considerable attention by the government. Taking a conservative stand on the taxation of digital currency, Finance Minister Nirmala Sitharaman on Tuesday announced that government would earn 30% behind every penny of profit earned by way of transfer of virtual money. The launch of …

India Tax Budget Cryptocurrency Crypto Bank Digital
RBI to issue Digital Rupee in FY23: Sitharaman
2 years, 10 months ago

RBI to issue Digital Rupee in FY23: Sitharaman

Deccan Chronicle  

Mumbai: The Reserve Bank of India will issue the much-awaited digital rupee in the next financial year, finance minister Nirmala Sitharaman said in the Union Budget on Tuesday. The digital rupee or the Central Bank Digital Currency will be based on blockchain technology, the tech behind Bitcoin and other popular cryptocurrencies. Sitharaman said, "Introduction of Central Bank Digital Currency will …

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How India’s crypto industry reacted to Budget 2022
2 years, 10 months ago

How India’s crypto industry reacted to Budget 2022

Live Mint  

Union Finance Minister Nirmala Sitharaman, in her Budget 2022-23 speech on Tuesday, announced plans to start a digital currency and tax crypto assets, as the country keeps pace with the global move toward virtual financial instruments. Here's how India's crypto industry has reacted to Budget 2022: CoinSwitch CEO Ashish Singhal We welcome the government's decision to introduce central bank digital …

India Taxation Industry Budget Digital Nirmala Sitharaman Virtual