Central bank digital currency (CBDC) Subject: economy Why in the news? Central bank digital currency (CBDC), to be launched this year, could become a tool for reducing time and cost for cross-border transactions, Reserve Bank Deputy Governor T Rabi Sankar. Details: CBDC is probably the most efficient tool for reducing time and cost […]

    Central Bank Digital Currency (CBDC) Subject : Economy Section :Monetary Policy and Banking Context: Proposed digital currency by RBI to speed up transactions , reduce cost of cash The Reserve Bank of India is planning to come out with a central bank-backed digital currency, using blockchain technology in 2022-23. A Central Bank Digital […]

    Central Bank Digital Currency (CBDC) Subject – Economy Context – RBI board discusses private cryptos, central bank digital currency Concept – The term central bank digital currency (CBDC) refers to the virtual form of a fiat currency. A CBDC is an electronic record or digital token of a country’s official currency. As such, […]