According to the US-based think-tank Atlantic Council, as many as 130 countries, representing 98 per cent of the global economy, are now exploring digital versions of their currencies, with almost half in advanced development, pilot or launch stages. Where does India stand on its pilot programme and what are the benefits of the digital rupee? A few FAQs:
What is the digital rupee and when was it launched?
The digital rupee (also referred to as e-rupee) is India's version of a central bank digital currency (CBDC).
The Reserve Bank of India (RBI) launched the digital rupee as a pilot project in the wholesale segment on November 1, 2022, for use in the settlement of secondary market transactions in government securities. A secondary market is one where financial instruments like bonds are traded.
The pilot project in the retail segment was launched on December 1 the same year for use within a closeduser group comprising participating customers and merchants.
What is the volume of digital rupees in circulation?
The total value of the digital rupee in circulation stood at Rs 16.4 crore as of March 31, 2023, of which Rs 5.7 crore was in the retail segment. Since it is a pilot project, it is not strictly comparable with the total value of banknotes in circulation, which stood at Rs 33.5 lakh crore, and coins at Rs 30,242 crore.
How does the digital rupee work?
Diese Geschichte stammt aus der September 25, 2023-Ausgabe von India Today.
Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.
Bereits Abonnent ? Anmelden
Diese Geschichte stammt aus der September 25, 2023-Ausgabe von India Today.
Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.
Bereits Abonnent? Anmelden
Delhi's Belly
Academic, historian and one of India's most-loved food writers, PUSHPESH PANT'S latest book-From the King's Table to Street Food: A Food History of Delhi-delves deep into the capital's culinary heritage
IT TAKES TWO TO TANGO
Hemant and Kalpana Soren changed Jharkhand's political game, converting near-collapse into an extraordinary comeback
THE MAHA BONDING
At one time, Fadnavis, Shinde and Ajit Pawar were seen as an unwieldy trio with mutually subversive intent. A bumper assembly poll harvest inverts that
THE LION PRINCE
A spectacular assembly election win ended a long political winter for Kashmir and his party, the National Conference. But Omar Abdullah now faces crucial tests—that of meeting great expectations and holding his own with the Centre till J&K gets its statehood back
TRIAL BY FIRE
Formal charges in a US court, an air marked by accusations of bribery and concealment of information, the attendant political backlash, pressure on stock prices, valuation losses. Yet the famed Adani growth appetite and business resilience stays
'Criticism has always been a source of motivation for me'
It’s just day five since he was crowned 2024 FIDE World Chess champion (which he celebrated with a bungee jump), and Gukesh Dommaraju is still learning to adjust to the fanfare.
THE YOUNG GRANDMASTERS
GUKESH DOMMARAJU IS NOW THE YOUNGEST EVER WORLD CHAMPION, BUT THAT IS JUST ICING ON THE CAKE IN INDIA'S CHESS STORY. FOR THE 'GOLDEN GENERATION', 2024 WAS THE YEAR THEY DID IT ALL
SHOOTING QUEEN
Manu Bhaker scripted a classic turnaround at Paris 2024, putting the ghosts of the past behind her through sheer willpower to engrave her own destiny
THE COMEBACK KING
It was in no one's script: Naidu's standing leap from near-oblivion, to a place where he writes the destiny of Andhra—even New Delhi
HALTING THE BJP JUGGERNAUT
A roller-coaster year saw the Opposition coalition rebound with bold moves and policy wins, but internal rifts continue to test its durability
