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The Reserve Bank of India (RBI) launches the first pilot project for central bank digital currency (CBDC), also known as digital rupee or e-rupee. The first digital rupee pilot will be in the Wholesale segment and the central bank has identified nine banks to participate in commencing the first pilot. The nine banks are State Bank of India, Bank of Baroda, Union Bank of India, HDFC Bank, ICICI Bank, Kotak Mahindra Bank, Yes Bank, IDFC First Bank, and HSBC. The pilot project will focus on settlement of secondary market transactions for government securities. Central Bank Digital Currency (CBDC) is a digital form of legal tender issued by the RBI. India’s CBDC will be called ‘e₹’, and it can be exchanged one-for-one for fiat currency as it is a digital form of rupee. RBI Headquarters: Mumbai Governor: Shaktikanta Das 4 Deputy Governors: T. Rabi Sankar, MK Jain, MD Patra, M Rajeshwar Rao The Reserve Bank of India defines Central Bank Digital Currency (CBDC) as a digital form of legal tender issued by a central bank. Simply put, it is a digital form of fiat currency, i.e. The Indian Rupee. As a result, it can be exchanged for fiat currency one for one. CBDC will have all of the advantages that we see with cryptocurrencies and digital forms of payment like it can never be torn, burned, or physically damaged. They are also not physically lost. In comparison to notes, the lifeline of a digital form of currency will thus be indefinite.The Digital Rupee will bring with it another significant advantage in terms of cryptocurrencies which is that it will be governed by a central authority, reducing the volatility risk associated with other digital currencies such as Bitcoin.
The passenger bogies of the Indian Railways are manufactured at which of the following places?
When was the Southern Railway zone created?
Which railway station has received the IGBC’s ‘Green Railway Station’ certification with platinum rating in 2023?
Which one of the following States does NOT have the Headquarters of any Railway Zone?
The first thoughts for a railway system in British India were expressed in a Parliamentary Select Committee meeting held ______ in in 1831-32.
Which railway station became the country's first all-women railway station under non- suburban category?
Integral Coach Factory is located at:
A total of ______ Indian Railway’s zones came into being in 1952
DFCCIL is being funded through a debt-equity ratio of:
Deccan Odyssey is run by which state rail tourism?
