The central bank digital currency (CBDC) is about to be launched this financial year in FY23. The introduction of a central bank digital currency will give a big boost to the digital economy. Digital currency will also help in the currency management system. CBDCs will benefit the economy with retail consumers being able to make easy, secure and fast payments. CBDCs could also be scheduled to pay taxes or make other payments to the government as a part of routine transactions.
India’s Digital Currency
RBI to introduce digital rupee in FY23
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