It costs RBI 15 to 17 rupees to print a 100 rupee note.The RBI expects the cost to fall sharply with the same digital rupee.
The government may launch its digital currency in early 2023.
Digital currency leads to huge savings in the cost of maintaining currency notes for the central bank.
Reserve Bank of India (RBI) has to spend crores of rupees for printing, distribution and storage of currency notes.The introduction of the digital rupee will save a lot of RBI operating costs.
It is possible to replace a portion of the cash with an online lead tender.Finance Minister Nirmala Sitharaman has said that the RBI will introduce the 'digital rupee' as it presents the budget for the 2022-23 financial year.
Digital currency issued by the Reserve Bank has unique numbers.
This is no different to fiat currency.This is its digital form.In a way it will be a government-guaranteed digital wallet.
Units issued in the form of digital currency are incorporated into the currency in circulation.The government has reduced the circulation of high denomination notes.Printing mostly small notes.
Therefore, the introduction of digital currency will bring huge savings to the RBI.The digital rupee blockchain developed by the Reserve Bank can trace all types of transactions.The digital rupee will be ready by the end of next financial year.
People have digital currency in their phone.It is transferred to the shopper at the time of sale.There will be full government guarantee on this – The RBI Wants To Cut Costs With The Digital Rupee telugu-title:డిజిటల్ రూపాయితో ఖర్చు తగ్గించాలనుకుంటున్న ఆర్బీఐ అదెలాగంటే.Read More ??https:/telugustop.com/?p=1905451 – Telugu News #TeluguNews #TeluguBreaking #Telugu #TeluguStop | Telugu news #Blockchain #Sitharaman #DigitalRupees #FiatCurrency #TeluguNews #TeluguNewsVideos Channel:Telugu News
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