RBI DIGITAL CURRENCY

Mule accounts are bank accounts that are used to launder proceeds of crime by fraudsters. In an age when there are strict laws on holding or using large amounts of cash, transactions in the banking system cannot be avoided. At the same time, crimina...

India's digital currency, the e-rupee, has seen a sharp decline in usage, dropping to 10% of its December peak, sources reveal. Initially boosted by incentives, daily transactions fell from 1 million to about 100,000 after these incentives waned. Th...

Incremental currency in circulation since the election commission announced the election date in March till the last phase of election at Rs 89,080 crore as of June 7 was 22 percent higher than Rs 72,680 crore in the same period of 2019 elections. T...

I believe that the market is going to remain positive. Investors are going to be remaining confident. Maybe these numbers are going to be forgotten after a couple of days once the ministries and the governments are formed.

In the wholesale segment, the outstanding amount stood at ₹8 lakh in March 2024, from ₹10.6 crore last year, and in the retail segment, the amount climbed to ₹234 crore in March 2024, from ₹6 crore last year. India's CBDC, the Digital Rupee (e₹), is...

In a significant turnaround, hospitality startup Oyo reported its first annual profitable fiscal on Thursday. This and more in today’s ETtech Top 5.

Both sets of documents, which have been seen by Reuters, have been submitted to a government panel which is tasked with formulating policy for the finance ministry to consider. SEBI's stance has not previously been reported.

India's transition to digital payments is effectively curbing the traditional outflow of currency from its banking system, as evidenced by the sharpest decline in the growth of currency in circulation (CIC) since demonetisation in FY24. The Reserve ...

The Reserve Bank of India (RBI) is working to increase the acceptance of the Central Bank Digital Currency (CBDC) for retail transactions, despite the high number of transactions reaching 1 million per day. The RBI is focusing on making the digital ...

Data from Google Ads Transparency Centre shows that parties are shelling out nearly Rs 117 crore on the search giant alone. This is against the Rs 10 crore spent on political ads in the runup to the 2019 general elections.

Blockchain-based digital currency allows programmability of money. This means, in some cases, usage can be restricted to specific merchants only. This feature has caught the attention of the government, which is considering using it for targeted sub...

Plans to elevate the rupee to a global free-floating currency are gaining momentum once more. The RBI's 'Report on Currency and Finance 2020-21' initiated this push, envisioning the rupee's ascent as an international currency. The timing of the move...

The Reserve Bank of India (RBI) is expanding the usage of Central Bank Digital Currency (CBDC) by allowing distribution through Non-bank Payment System Operators. CBDC pilots in Retail and Wholesale segments are ongoing with 4.3 million retail users...

Digital Rupee transaction: The Reserve Bank of India has proposed that CBDC (Central Bank Digital Currency) or, the eRupee, to be accessible to broader sectors of customers.

Modi emphasizes RBI's role in globalizing the rupee, enhancing India's economic growth. Efforts include digitizing payments, improving banking sector, exploring AI, ML, and supporting emerging sectors like tourism and space projects for future econo...

RBI governor stressed on distinguishing between blockchain technology, which has various applications including the central bank's digital currency project, and speculative crypto trading. He noted the growing awareness among individuals, both in In...

During the monetary policy meeting on February 8, RBI governor Shaktikanta Das proposed new use cases to incorporate programmability and offline functionality in CBDCs. He said the programmability use case of CBDCs will empower entities like governm...

Soon, offline transactions can be conducted using the RBI's Digital Rupee. The Reserve Bank of India (RBI) has stated that its Central Bank Digital Currency (CBDC) can be used offline in its RBI monetary policy meeting.

Happy 75th Republic Day! To widen the use cases of central bank-backed digital currency (CBDC), the RBI is exploring tokenisation of government bonds and securities. This and more in today’s ETtech Morning Dispatch.