Digital currency an idea that can
go far, but will RBI explore it?
Digital currency an idea that can go far, but will RBI explore it? on Business Standard.
Skepticism is high about "Retail Direct" because previous attempts at bringing public debt to
the masses haven't gone anywhere
Market News As the government’s investment bank, the RBI manages
institutional buying and selling in gilt securities. Skepticism is high
about “Retail Direct” because previous attempts at bringing public debt
to the masses haven’t gone anywhere.
But if the initiative takes off, it could be a precursor to an interest-
paying digital currency competing with bank deposits.
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The idea of a central bank digital currency, which will reside on
smartphones but as a direct claim on the state (rather than a bank) is
gaining ground everywhere.
The rise of cryptocurrencies and Facebook Inc.’s Libra initiative, now
known as Diem, have made authorities sit up and take note. If they
don’t offer their own official tokens, private coins...Read more.
News Source : BS / Business Standard