First time RBI introduce Erupee (Digital Currency?)
Erupee Or Digital Currency : ---
first time in India it is going to introduce and it will be regulated by Reserve Bank of India.
Digital rupee is like virtual currency for transactions in Government Securities and private sectors in other government transactions, it is a little bit difficult to understand, because it is in the form of digital balance not like a physical rupee, it is just like a cryptocurrency but digital rupee will not be decentralized it will be only regulated by RBI and it is fully legal and acceptable by Indian authorities of our government.
How it will be Introduce?
It will be introduce in two phase ( CBDC Wholesale CBDC retail ) There are two types of CBDC Central Bank digital currency wholesale it will be used for large amount of transactions and second is central bank digital currency retail that will be used for retail transactions
What is digital rupee ?
It is known as the central bank digital currency CBDC and it is digital form of currency like Amazon pay balance or Paytm Balance we can understand it a good step for India in future because India is a developing country and it needs digital rupee and it is grateful moment for us we are going to be a proof when it is firstly introduced in India, it is used for settlement amount on the purchase and sale of Government Securities government Bond and for retail transactions
Digital Rupee |
Where it will be started ?
First time it will be started in selected locations and Bank and also the most attractive thing is if you want to change this CBDC money into your Indian currency then you will also be able to change it into physical money through Bank
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