'Central bank digital currency will strengthen the digital economy,” said India’s prime minister. digitalrupee CBDC crypto cryptocurrency
India's Prime Minister Modi: Digital Rupee Will Strengthen Digital Economy, Revolutionize Fintech
The country’s finance minister, Nirmala Sitharaman, announced during her budget speech Tuesday that the central bank, the Reserve Bank of India , willThe digital rupee will be the digital form of our physical rupee and will be regulated by the RBI. This will be such a system that will enable an exchange of physical currency with digital currency.
Noting that “CBDC will make digital payments and online transfers of funds more secure and risk-free,” Prime Minister Modi said, “This will also lead to ease in development of global digital payment systems.” The prime minister added:
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