Central Bank Digital Currency (CBDC) - RBI

The Reserve Bank of India may soon launch a pilot project to evaluate the feasibility of using digital currencies for wholesale and retail payments.
Sheena

Updated: Jul 24, 2021 02:30:24 pm

24 July 2021 Current Affairs:The Reserve Bank of India may soon launch a pilot project to evaluate the feasibility of using digital currencies for wholesale and retail payments. These projects will help adjust RBI's strategy to introduce a comprehensive central bank digital currency (CBDC).  A high-level inter-ministerial committee appointed by the Finance Ministry recommended the establishment of a CBDC along with changes to the legal framework, including the RBI Act, which currently allows the RBI to regulate the issuance of bank notes.

About The Central Bank Digital Currency (CBDC):
♦ It is the legal tender and responsibility of the national central bank in digital form. 
♦ It is denominated in sovereign currency and appears on the balance sheet of a country's central bank. 
♦ CBDC is a digital currency that can be exchanged/exchanged at the same price as a country's cash of similar denomination and traditional central bank deposits.
♦ At the moment, central banks from various countries are investigating the positive implications of digital currency for financial inclusion, economic growth, technology, innovation, and increased transaction efficiencies.
 
Free Current Affairs to Your Email

Latest Current Affairs 2021

Indian Affairs

India be TransFat Free by 2022 - FSSAI

Sep 25,2021 02:20:50 pm
As per Food Safety & Standards Authority of India (FSSAI) study, India is all set and is on the proper track to become industrial trans-fat-free by 2022.
Fresherslive . 3 hours ago
Science & Technology

Matthew Henson Name for Lunar Crater

Sep 25,2021 02:19:06 pm
The International Astronomical Union has named a crater at the Moons south pole after the Arctic explorer Matthew Henson, a Black man who in 1909 was one of the first human beings to stand at the very top of the world.
Fresherslive . 3 hours ago
Banking & Finance

BPCL and SBI Joined to Launch BPCL SBI Card

Sep 25,2021 02:17:06 pm
Bharat Petroleum Corporation Limited (BPCL) and SBI Card have joined arms to launch the BPCL SBI Card co-branded RuPay Contactless Credit Card, providing gasoline and other benefits.
Fresherslive . 3 hours ago
Indian Affairs

Former ISRO Chief to Head Education Ministry Panel

Sep 25,2021 02:15:37 pm
The Union education ministry has shaped a 12-member committee to enhance new curriculums for school, early childhood, teacher and grownup education.
Fresherslive . 3 hours ago
Awards and Honours

Changemaker Award for Fairooz Faizah

Sep 25,2021 02:03:45 pm
The award celebrates a character who has inspired exchange the usage of private ride or from a role of leadership.
Fresherslive . 3 hours ago
Awards and Honours

Global Goalkeeper Award for Phumzile Mlambo-Ngcuka

Sep 25,2021 01:59:07 pm
Goalkeepers is the foundations marketing campaign to accelerate progress closer to the Sustainable Development Goals (Global Goals).
Fresherslive . 3 hours ago
Sports

Motto for Beijing Olympics Revealed

Sep 25,2021 01:56:19 pm
The motto was chosen after a lengthy technique that protected a total of 79 unique proposals.
Fresherslive . 3 hours ago
Summits & Conference

Indian Government to Host UK Dialogue for the 1st Time

Sep 25,2021 01:54:40 pm
Earlier, India and the UK held the first assembly of the India-UK Financial Markets Dialogue on the eighth of July.
Fresherslive . 3 hours ago
Agreements MoU

Yes Bank Collaborated with VISA for Credit Cards

Sep 25,2021 01:53:40 pm
Yes Bank has partnered with Visa to offer credit score cards to its customers, following the regulatory ban on Mastercard by RBI.
Fresherslive . 3 hours ago
Agreements MoU

Federal Bank and OneCard Ties Up for Mobile-First Credit Card

Sep 25,2021 01:50:49 pm
Federal Banks goal consumer base for this offering is younger working professionals aged between 23 and 35 years, as per the bank.
Fresherslive . 3 hours ago

Daily Current Affairs 2021


Subscribe to Current Affairs

Enter your email to get daily Current Affairs
Current Affairs PDF

Monthly Current Affairs PDF

Current Affairs 2021 September

September 25
News Quiz
September 24
News Quiz
September 23
News Quiz
September 22
News Quiz

Current Affairs 2021 August

August 31
News Quiz
August 28
News Quiz
August 27
News Quiz
August 26
News Quiz

Current Affairs 2021 July

July 30
News Quiz
July 29
News Quiz
July 27
News Quiz
July 26
News Quiz