Indian Digital currency

India introduced their Digital currency early in 2023

India very soon introduce their digital currency in the world is likely to be debut by early 2023 and will be a sovereign-back facility at the top, a government source said. Currently, the private company operates an electronic wallet like google pay, phone pay, Paytm, and soo on. these private companies capture a transfer of money with the help of their app. But after coming digital currency payment methods are more secure and it helps to develop the country soo fast.

Indian Digital currency

India is going to introduce digital currency in 2023

Finance minister Nirmala Sitaraman in her budget speech last week talked about launching a central back-backed “digital rupee” soon.

A top government who wised to identify the digital currency in India issued by the RBI would be numbered in units,  just like every fiat currency has a unique number.

RBI has indicated that the digital rupee would be ready by the end of the next financial year.

The digital rupee blockchain, being developed by the reserve bank would be able to trace all transactions unlike the current system of mobile wallets offered by private companies.

This time the transaction is offered by private companies in the form of an electronic wallet, people currently transfer their money to the private company that holds the money on their behalf and pays to a merchant when there is any transaction.

Countries stand on Digital Currency

China is the first country who introduce a digital currency be issued in RMB to help in a major economy. on September 27, 2021, Tajikistan announced the creation of CBDC  with the foundation, and Nigeria was the first African Country to launch its CBDC on October 25.

The bank of America said in its recent report that a US CDBC would differ from the digital currency currently available to the public because it would be a liability of the US federal reserve, not a commercial bank, and so would have no credit or liquid risk.http://www.morningmodester.com/today-headline/ipl-2022-latest-updates/



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