Currency

What is Digital Rupee?  

By Rajendra

Nov 9, 2022

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The Reserve Bank of India (RBI) will launch the pilot for a central-bank-backed digital rupee for the wholesale segment

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Digital rupee should be exchangeable at par with cash

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CBDC (Central Bank Digital Currencies) is the same as currency issued by a central bank but takes a different form than paper.

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due to government backing, having intrinsic value.

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It is sovereign currency in electronic form, and on the balance sheet of a central bank, it would show up as a liability 

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Digital rupee will have the same value as having a physical rupee.

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A contactless transaction can be made using digital rupees.

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Advantage of digital currency is that it is not physically harmed, burned, or torn.

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Being backed by the government will set digital rupee other than Bitcoin, cryptocurrencies.

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