{"id":5234,"date":"2022-12-16T19:48:31","date_gmt":"2022-12-16T19:48:31","guid":{"rendered":"https:\/\/www.caindelhiindia.com\/blog\/?p=5234"},"modified":"2022-12-16T19:57:53","modified_gmt":"2022-12-16T19:57:53","slug":"launched-digital-rupee","status":"publish","type":"post","link":"https:\/\/www.caindelhiindia.com\/blog\/launched-digital-rupee\/","title":{"rendered":"Basic features of newly launched Digital Rupee"},"content":{"rendered":"

\"Ten<\/h2>\n

Basic features of newly launched Digital Rupee:<\/strong><\/span><\/h2>\n
    \n
  • Digital Rupee (eRs-R) would be in the form of a digital token that represents legal tender.<\/li>\n
  • above Digital Rupee would be issued in same denominations that paper currency & coins are existing issued.<\/li>\n
  • Digital Rupee (eRs-R) would be distributed via intermediaries ie. banks.<\/li>\n
  • 8 Pvt or Public sector banks have been identified for phase-wise participation in this pilot.<\/li>\n
  • 1st<\/sup> phase will begin with only 4 Pvt or Public sector banks, namely Yes Bank, ICICI Bank, State Bank of India, and IDFC First Bank in 4 cities across the nation.<\/li>\n
  • Pilot would started cover 4 majors cities, namely, Bengaluru, Mumbai, New Delhi & Bhubaneswar.<\/li>\n
  • Users will be able to transact with eRs-R via a digital wallet offered by participating banks & Digital Rupee (eRs-R) stored on mobile devices or phones.<\/li>\n
  • When we have money in our bank account, i Digital Rupee (eRs-R) usually attracts interest. When Digital Rupee (eRs-R) comes to the eRs-R , it won\u2019t earn any interest and its value of it will remain constant.<\/li>\n
  • Transactions can be both person-to-merchant (P2M) & person-to-person (P2P). Payments to merchants can be made very easily and fastly via quick response (QR) codes displayed at merchant locations.<\/li>\n<\/ul>\n

    Benefit & Taxation over virtual assets is that Digital Rupee (eRs-R)<\/strong><\/span><\/h3>\n

    \"Benefit<\/p>\n

      \n
    • Benefit over virtual assets is that Digital Rupee (eRs-R) is issued & controlled by Reserve Bank of India,<\/li>\n
    • The “anonymity component” is essential for the acceptability of the virtual currency, he said, and the CBDC would enable better financial transmission at a significantly lower cost.<\/li>\n
    • According to a source, the RBI has ordered banks to allow customers the same level of anonymity as cash transactions by not tracking or recording e-R transactions worth less than Rs 50,000.<\/li>\n
    • “It collaborates, completes, and incubates additional innovation while also completing the money architecture in vogue.”<\/li>\n
    • The same confidence and trust that are associated with bank notes issued by the RBI can also be applied to the token-based digital rupee. With the use of an app, consumers may send and receive payments entirely digitally using the digital rupee.<\/li>\n
    • According to a video RBI : when the pilot project was launched for a closed user group, the usage of digital rupee is also anticipated to save operating costs associated with the handling of physical cash while also promoting financial inclusion in the economy.<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"

      Basic features of newly launched Digital Rupee: Digital Rupee (eRs-R) would be in the form of a digital token that represents legal tender. above Digital Rupee would be issued in same denominations that paper currency & coins are existing issued. Digital Rupee (eRs-R) would be distributed via intermediaries ie. banks. 8 Pvt or Public sector …<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mi_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[792,115],"tags":[964],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/posts\/5234"}],"collection":[{"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/comments?post=5234"}],"version-history":[{"count":5,"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/posts\/5234\/revisions"}],"predecessor-version":[{"id":5242,"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/posts\/5234\/revisions\/5242"}],"wp:attachment":[{"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/media?parent=5234"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/categories?post=5234"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/tags?post=5234"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}