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India’s New Central Bank Digital Currency
February 3 , 2021
1394 days
1523
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- RBI is in process of examining if India needs a new central bank digital currency (CBDC).
- It is also exploring ways to operationalise the digital currency.
- CBDC is a legal tender and a central bank liability in digital form.
- The digital currency is denominated in a sovereign currency.
- It also appears on the balance sheet of the central bank.
- This is an electronic version of currency.
- It can be converted or exchanged with the similar denominated cash and the traditional central bank deposits.
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