INDIA DIGITAL CURRENCY Flashcards
RBI GOVERNOR
Shaktikanta Das
Announced on
Budget speech 2022-23 budget speech
When was it launched for the wholesale segment
November 2022
When was it launched for the retail segment
December,2022
CBDC
Digital versions of traditional currency issued and regulated by a central bank
Crytocurrencies
Are decentralised and not backed by government
Fiat cirrency
Idea of CBDCs inspired by
Bitcoin
Aim of Central bank
10 lakh per day by the end of the year
Key benefits
Operational cost reduction
Efficient inter bank market
Improved cross border payments
Pilot started in?
4 cities…Mumbai,Delhi Bengaluru,bhubaneshwar
4banks…SBI,ICICI,yes Bank,idfc
Now expanded….13 banks…26 locations
First economy to launch its nationwide cbdc
Bahamas..2020 SAND DOLLAR
NIGERIA another in 2020 ...enaira
World’s first major economy to pilot a digital currency e-Cny
CHINA ..2020
In G 20 how many countries launched digital currency
11
Who operates UPI
NPCI…UNDER RBI
NPCI launched** UPI** with?
21 member banks…2016
When did transactions crossed 100 million first time
October 2021
When RBI was established
1 April .1935…RBI ACT 1934
Initially hq…Calcutta
Permanently moved to Mumbai in…1937
When was it nationalized..1949
Fully owned by…Finance ministry India
RBI directors are appointed for a period of
4 yrs
Who designed the new rupee symbol
D UDAY KUMAR
First governor of India
Osborne Smith
The notes and coins of which denominations is not printed or minted by RBI
rupees 1…..sign of finance secretary
Moon Man of India
Mylswamy Annadurai
1st female finance minister of India
Nirmala Sitharaman
we bank is the largest digi bank of which country?
CHina
