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Explained | IMF’s view on cryptocurrency in Latin America
1 year, 5 months ago

Explained | IMF’s view on cryptocurrency in Latin America

The Hindu  

The story so far: On June 22, the International Monetary Fund issued a statement on the use of cryptocurrency in the Latin America and Caribbean market, and about the rising interest in blockchain-based central bank digital currencies. — Nayib Bukele November 17, 2022 El Salvador uses a digital wallet known as Chivo to regulate users’ crypto transactions. And as on …

Crypto Bitcoin Caribbean Latin America Latin America Imf
Can You Use Digital Rupee Without A Bank Account? Know How Digital Rupee Wallet Works
2 years ago

Can You Use Digital Rupee Without A Bank Account? Know How Digital Rupee Wallet Works

News 18  

India’s central bank digital currency, or digital rupee, has seen the light of the day and is currently in its trial mode to test the robustness of the entire process of its creation, distribution and retail usage in real-time. Now, as the digital rupee is a fungible legal tender issued by the RBI, do users need bank account to use …

Currency Banks Rupee Account Wallet Bank Account Cbdc
Explained: How Reserve Bank's e-rupee is different from UPI?
2 years ago

Explained: How Reserve Bank's e-rupee is different from UPI?

Hindustan Times  

The Reserve Bank of India has recently scaled the pilot of Central Bank Digital Currency or e-rupee for the retail sector. The CBDC or e-rupee is a legal tender money backed by the RBI similar to cash, but for UPI payments, it has to be linked with bank accounts. E-rupee is a legal tender money As the name suggests, the …

Money Currency Rbi Reserve Bank Transactions Upi Upi Payments
Don't create 'fear psychosis' on privacy concerns: RBI governor Shaktikanta Das
2 years ago

Don't create 'fear psychosis' on privacy concerns: RBI governor Shaktikanta Das

The Hindu  

Asserting that the newly-introduced Central bank digital currency does not leave any trail with a bank, RBI governor Shaktikanta Das on December 7 said there is no need to create a "fear psychosis" in the minds of people over privacy concerns. The pilot on the wholesale Central bank digital currency has been very satisfactory, and the RBI is keen to …

Bank Currency Central Rbi Das Concerns Privacy Concerns
Time is right for a digital rupee
2 years ago

Time is right for a digital rupee

Hindustan Times  

Starting this month, the Reserve Bank of India will begin a pilot project that will put a digital rupee, or e ₹, in the hands of individuals. In simple terms, a CBDC is the closest virtual equivalent of cash with the liability for its value resting directly with the central bank, instead of — as is the case at present …

India Bank Digital Rbi Cbdc
India to launch retail Digital Rupee on pilot basis: Which other countries have CBDC?
2 years ago

India to launch retail Digital Rupee on pilot basis: Which other countries have CBDC?

Firstpost  

On 1 December, India will join the list of countries that have introduced a Central Bank Digital Currency. Nigeria In October this year, the Central Bank of Nigeria marked one year since the launch of Africa’s first digital currency, the e-Naira. China’s central bank will expand the trials of its digital currency, the e-CNY, to four provinces, including Guangdong, Jiangsu, …

India China Russia Launch Central Bank Bank Currency
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 – …

Bank Digital Digital Currency Currency Central Rbi Rupee
Digital Rupee: RBI To Begin First Pilot In Wholesale Segment on Tuesday
2 years, 1 month ago

Digital Rupee: RBI To Begin First Pilot In Wholesale Segment on Tuesday

News 18  

India’s First Central Bank Digital Currency: The Reserve Bank of India on Monday said the first pilot in the digital rupee– wholesale segment will commence on Tuesday. The announcement comes after the central bank earlier this month said that it will soon commence pilot launch of the digital rupee for specific use cases. The RBI also said, “The first pilot …

Bank Digital Currency Central Pilot Cbdc Digital Rupee
CBDC: Nepal To Issue Its Own Digital Currency, Prepares Legal Changes
2 years, 4 months ago

CBDC: Nepal To Issue Its Own Digital Currency, Prepares Legal Changes

ABP News  

Nepal’s central bank, the Nepal Rastra Bank, is preparing to launch its own central bank digital currency soon. Following a study that noted that the introduction of a CBDC is indeed a feasible project, the NRB said it is ready with revisions to the Nepal Rastra Bank Act, 2002, that would allow it to issue a digital variant of its …

India Nepal Bank Digital Digital Currency Currency Cbdc
Digital Rupee: Why India Is Keen On Introducing A CBDC
2 years, 4 months ago

Digital Rupee: Why India Is Keen On Introducing A CBDC

ABP News  

Earlier this year, India announced plans to have its own central bank digital currency. The RBI has defined CBDC as a “legal tender issued by a central bank in a digital form. It will seem like any other digital payment service to users but since the CBDC will be a direct liability of the central bank, it would be more …

India Bank Digital Currency Central Banks Countries Central
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
RBI Wants To Enhance Scope Of Digital Currency Under Definition Of Bank Note, Proposes Amendment To Law
3 years ago

RBI Wants To Enhance Scope Of Digital Currency Under Definition Of Bank Note, Proposes Amendment To Law

ABP News  

New Delhi: The central government on Monday informed Parliament that it has received a proposal from the Reserve Bank of India last month to enhance the scope of digital currency under the definition of ‘bank note’. The RBI had introduced the proposal of Central Bank Digital Currency in October seeking to amend the Reserve Bank of India Act, 1934. On …

India Digital Digital Currency Currency Rbi Parliament Bill
Reserve Bank Set To Roll Out India’s Own Cryptocurrency. Know What Is CBDC
3 years ago

Reserve Bank Set To Roll Out India’s Own Cryptocurrency. Know What Is CBDC

ABP News  

New Delhi: The Centre is all set to introduce a new Bill during the winter session of Parliament to ban private cryptocurrencies and create guidelines for a legal digital currency by the Reserve Bank of India, according to a Lok Sabha bulletin released on Tuesday. To create a facilitative framework for creation of the official digital currency to be issued …

India Cryptocurrency Bank Digital Currency Rbi Bill
EXPLAINED: How RBI's Digital Currency Matters, And Why It Won't Be Like Bitcoin
3 years, 3 months ago

EXPLAINED: How RBI's Digital Currency Matters, And Why It Won't Be Like Bitcoin

News 18  

Come December and the Reserve Bank of India could be rolling out a pilot for India’s very own digital currency, an innovation that is tipped to change how currency is held and used in the time to come. Known as central bank digital currencies, these will, in fact, be much like the current system, although the underlying structure, founded on …

China Bank Digital Bitcoin Currency Central Banks Central
RBI Contemplating Pilot Launch of Digital Currency in Near Future: Deputy Guv
3 years, 5 months ago

RBI Contemplating Pilot Launch of Digital Currency in Near Future: Deputy Guv

News 18  

The Reserve Bank is working on a phased implementation strategy for its own digital currency and is in the process of launching it in wholesale and retail segments in the near future, RBI Deputy Governor T Rabi Sankar said on Thursday. “Like other central banks, RBI has also been exploring the pros and cons of introduction of CBDC since quite …

Bank Digital Currency Rbi Cbdc Sankar Near Future