The Reserve Bank of India (RBI) is not going to hurry the launch of the central bank digital currency (CBDC) and it will do so after considering the learnings from pilot projects, said Governor Shakitkanta Das on Wednesday.
The idea is to introduce CBDC without disruption, so the central bank is going to proceed "very carefully", he said. The central government's budget this year announced a Digital Rupee will be issued by RBI in FY23.
Separately, the RBI plans to launch the digitised Kisan Credit Card (KCC) loans in 2023, after accounting for the learnings from a pilot in Madhya Pradesh and Tamil Nadu. The pilot for CBDC in the wholesale segment commenced from November 1. The use case for this pilot is the settlement of secondary market transactions in government securities.
On the first day, 48 trades worth Rs 275 crore were carried out and on the second day, 45 trades worth Rs 290 crore were carried out.
This story is from the November 03, 2022 edition of Business Standard.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the November 03, 2022 edition of Business Standard.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Sign In
Cold wave, dense fog grip North India: Several flights delayed, schools shut
Low visibility conditions continued in Delhi on Sunday, while the Jharkhand government announced closure of schools from January 7-13 in view of a cold wave sweeping the eastern state.
Parts of US brace for heavy snow, ice, and blizzards
A blast of snow, ice, wind and plunging temperatures stirred up dangerous travel conditions in parts of the central US on Sunday, as a disruptive winter storm brought the possibility of the \"heaviest snowfall in a decade\" to some areas.
Delhi-Meerut travel now in 40 mins, via RRTS
PM also inaugurates Delhi Metro's Phase-IV stretch
Tighter anti-spam norms in a month: Trai
Pilot soon to onboard past user consents onto digital system
2025: Polls and the Fate of Freebies
This year will have the fewest elections of any in the current five-year electoral cycle. What does that mean for welfare schemes?
2024: The year that tested incumbents around the world
Apart from Assembly polls in Delhi and Bihar, 2025 could also see the long pending election to the country's wealthiest civic body, the Brihanmumbai Municipal Corporation.
India Is A Great Innovation Hotspot For Lenovo
Chinese technology major Lenovo has been reinventing itself in India, moving from screen to solutions every few years. Shailendra Katyal, managing director, Lenovo India, in a video interview with Pranjal Sharma, said India has become an important innovation hub for the company, which is also leveraging the country for exports. Edited excerpts:
India Ranked Second in Attacks by Threat Actors in 2024
Threat actors traded over 534 terabytes (TB) of data across industries and countries globally in 2024.
AI Euphoria May Fizzle Out Over Lack of Data
Tech giants are running out of data used to train AI systems. To overcome the problem, some companies are exploring new methods powered by 'synthetic data', write Cade Metz & Tripp Mickle
Prolonged litigation, low compensation
Bahadur Singh purchased a Mitsubishi Lancer diesel vehicle manufactured by Hindustan Motors.
