Indian banking is transforming rapidly as digital innovation replaces traditional services — the winners will be banks that balance trust with technology
BBPS (Bharat Bill Payment System) cross-border bill payment will highlight the adaptability of the BBPS platform to integrate with fintechs and conventional financial players to facilitate domestic as well as cross-border payment transactions.
The e-rupee will be a digital token that represents legal tender. It will be issued in the same denominations that paper currency and coins are currently issued.
Mumbai: The Reserve Bank said the first pilot of the Central Bank Digital Currency — Digital Rupee (Wholesale segment) will be launched on Tuesday for transactions in government securities. The use case for the pilot is settlement of secondary market transactions in government securities, the RBI said in a statement on Monday. Nine banks — […]
RBI has already announced that it will pilot Central bank digital currency, the digital equivalent to the rupee, this year, read here to know what it means.
Mumbai: Cryptocurrency is privately created and it is a very big threat to the country’s macroeconomic and financial stability, RBI Governor Shaktikanta Das said on Thursday. Replying to a question, Das said, “Cryptocurrency or currency which have currency like character, they will undermine the RBI ability to deal with issues of financial stability.” RBI Governor […]
New Delhi: Cryptocurrencies like Bitcoin or Ethereum will never become a legal tender, Finance Secretary TV Somanathan told ANI adding only the digital rupee issued by the Reserve Bank of India (RBI) would be the legal tender. Speaking to ANI, Finance Secretary said, “Digital rupee will be backed by RBI which will never default. Money […]
New Delhi: Prime Minister Narendra Modi on Wednesday said the digital Rupee will open up new opportunities for the Fintech sector and will give a big boost to the digital economy. “There is also a lot of discussion about Central Bank Digital Currency in today’s newspapers. This will give a big boost to the digital […]
