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A central bank digital currency (CBDC; also called digital fiat currency [1] or digital base money [2]) is a digital currency issued by a central bank, [3] rather than by a commercial bank. It is also a liability of the central bank and denominated in the sovereign currency, [4] as is the case with physical banknotes and coins.
RBI classified CBDC into retail CBDC that will be designed to complete individual financial needs and wholesale CBDC which will be traded between RBI, Public and Private sector banks for currency distribution purpose and economic stability. [41] [42] Pilot project for digital rupee was launched on 1 November 2022. [43]
Digital currency is a term that refers to a specific type of electronic currency with specific properties. Digital currency is also a term used to include the meta-group of sub-types of digital currency, the specific meaning can only be determined within the specific legal or contextual case.
Following the long-awaited Fed discussion paper about the pros and cons of a potential U.S. central bank digital currency (CBDC) on Jan. 20, Bank of America economic analysts said they anticipate a...
Australia's central bank has decided to prioritise work on a wholesale central bank digital currency (CBDC) as its economic benefits are judged to outweigh those of a retail version, a top ...
The introduction of the Digital Rupee, a Central Bank Digital Currency (CBDC) issued by the Reserve Bank of India (RBI), is poised to have significant implications for the Indian economy. The shift to a digital currency is expected to contribute to the digitization of money, facilitating India's transition towards a cashless economy.
During a campaign stop in New Hampshire, former President Donald Trump vowed to block the creation of a U.S. Central Bank Digital Currency, calling it “a dangerous threat to freedom.”
The Digital Euro is the project of the European Central Bank (ECB), decided in July 2021, for the possible introduction of a central bank digital currency (CBDC). The aim is to develop a fast and secure electronic payment instrument that would complement the Euro for individuals and businesses in its existing form as cash and in bank accounts ...