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It is the same as a fiat currency and is exchangeable one-to-one with the fiat currency. Statement I is not correct - The digital fiat currency or CBDC can be transacted using wallets backed by blockchain. Bahamas has been the first economy to launch its nationwide CBDC — Sand Dollar. Statement II is not correct - China became the world's first major economy to pilot a digital currency e-CNY in April 2020. Nigeria is another country to have rolled out eNaira in 2020. Statement III is correct - CBDCs are a digital form of a paper currency and unlike cryptocurrencies that operate in a regulatory vacuum, these are legal tenders issued and backed by a central bank.
Suppose that x and y are distinct variables that take values from (1, 2, 3, 4, 5, 6). What is the probability that the value of the expression xy+x+y is...
What is the remainder when 220 is divided by 3?
The breaking up and decay of exposed rocks by temperature changes, frost action, plants, animals and human activity is called:
Identify the correct statement(s) regarding the RBI and gold imports:
1. The RBI is exempt from paying import levies on gold.
2. The total...
India became the winner of the International Badminton Championship Thomas Cup 2022 by defeating which of these countries?
Which statement correctly reflects the feature of BBPS?
I - The Bharat Bill payment system is a Reserve Bank of India ( RBI ) conceptualised s...
Which amongst the following sectors generates the second-largest employment in India?
The book ‘Lockdown Liaisons’ authored by Shobhaa De and Published by:
The Indian Navy received its first P15B stealth guided-missile destroyer “Visakhapatnam-class” on October 28, 2021 which company was behind its manu...
Who is the nodal agency for implementing the Pradhan Mantri Awas Yojana (PMAY)?