Impact of CBDC on the financial system and economy of India

Impact of CBDC on the financial system and economy of India

It was a proposal made in October 2021 by the RBI to the government, which set India on the path of becoming one of the largest economies in the world to use a CBDC (Central Bank Digital Currency). The central bank had recommended that the RBI Act, 1934, be amended to broaden the ‘banknote’ definition …

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