Tap to Read ➤

RBI's proposed e-rupee: 10 things to know

krishna murthy
The government aims to launch Central Bank Digital Currency (CBDC), to provide more efficient payment systems and keep a check on money laundering.
The RBI’s digital currency is not meant to replace the existing payment systems but to render an additional route to users.
The RBI’s digital currency is not meant to replace the existing payment systems but to render an additional route to users.
The CBDC is a legal tender issued by the Central Government in a digital form.
It is the same as a sovereign currency and is exchangeable one-to-one at par.
Unlike digital currency, it will be a liability of the Central Bank and not the commercial bank.
CBDC can be structured as token-based or account-based.
It will likely reduce the cost of issuance of money and transactions, says the RBI’s concept note.
It will likely reduce the cost of issuance of money and transactions, says the RBI’s concept note.
CBDC is a “fungible legal tender” for which holders do not require to have a bank account.
The central bank digital currency is expected to generate huge sets of data in real-time.
More Web Stories
Next: The strongest currency in the world
Find Out More