Launch of RBI Retail Digital Currency – Everything to Know About RBI Digital Rupee | Telugu | Ambika

Digital Currency , Launch of RBI Retail Digital Currency – Everything to Know About RBI Digital Rupee | Telugu | Ambika ,
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RBI Pilot Project on Central Bank Digital Currency: https://youtu.be/cMea_OXqZEk

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This week, the Reserve Bank of India began testing a digital version of the rupee, a pilot programme. The first rollout of digital money will be limited to a few large cities and will be provided by a small set of public and private institutions. It will be used for transactions between individuals as well as between individuals and merchants.

Bank deposits may be converted into digital rupees, which can be used to pay for bank deposits. The Reserve Bank of India (RBI) is the central bank responsible for issuing the digital rupee, often known as the e-rupee. It is similar to the actual currency you carry in your wallet; the only difference is that the e-rupee is kept digitally in a wallet supervised by the RBI rather than physically.

The Reserve Bank of India (RBI) has declared the digital rupee to be a valid currency; hence, all businesses and individuals throughout the nation must acknowledge it as a medium of exchange. However, this differs from deposits you have at a financial institution. Unlike promises, which get interest payments, the central bank does not pay any interest on the digital rupees stored in your wallet.

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