{"id":5273,"date":"2023-01-09T19:29:24","date_gmt":"2023-01-09T19:29:24","guid":{"rendered":"https:\/\/www.caindelhiindia.com\/blog\/?p=5273"},"modified":"2024-04-30T18:48:49","modified_gmt":"2024-04-30T18:48:49","slug":"digital-rupee","status":"publish","type":"post","link":"https:\/\/www.caindelhiindia.com\/blog\/digital-rupee\/","title":{"rendered":"Digital Rupee is new way of online transaction without Bank"},"content":{"rendered":"<h2><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-5253\" src=\"https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2022\/12\/India-is-now-a-net-toy-Exporter.jpg\" alt=\"India is now a net toy Exporter\" width=\"1200\" height=\"675\" srcset=\"https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2022\/12\/India-is-now-a-net-toy-Exporter.jpg 1200w, https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2022\/12\/India-is-now-a-net-toy-Exporter-300x169.jpg 300w, https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2022\/12\/India-is-now-a-net-toy-Exporter-1024x576.jpg 1024w, https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2022\/12\/India-is-now-a-net-toy-Exporter-768x432.jpg 768w, https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2022\/12\/India-is-now-a-net-toy-Exporter-800x450.jpg 800w\" sizes=\"(max-width: 1200px) 100vw, 1200px\" \/><\/h2>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_58 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<p class=\"ez-toc-title\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-69de9ce0005e0\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-69de9ce0005e0\"  aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/www.caindelhiindia.com\/blog\/digital-rupee\/#A_new_way_of_online_transaction_without_Bank_Account_%E2%80%93_Digital_Rupee\" title=\"A new way of online transaction without Bank Account &#8211; Digital Rupee\">A new way of online transaction without Bank Account &#8211; Digital Rupee<\/a><ul class='ez-toc-list-level-3'><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/www.caindelhiindia.com\/blog\/digital-rupee\/#What_is_Digital_Rupee\" title=\"What is Digital Rupee?\">What is Digital Rupee?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/www.caindelhiindia.com\/blog\/digital-rupee\/#What_are_the_special_features_of_Digital_Rupee\" title=\"What are the special features of Digital Rupee?\">What are the special features of Digital Rupee?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/www.caindelhiindia.com\/blog\/digital-rupee\/#How_is_Digital_Rupee_different_from_Cryptocurrency\" title=\"How is Digital Rupee different from Cryptocurrency?\">How is Digital Rupee different from Cryptocurrency?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/www.caindelhiindia.com\/blog\/digital-rupee\/#What_will_be_impact_of_Digital_Rupee_on_the_economy_in_the_future\" title=\"What will be impact of Digital Rupee on the economy in the future?\">What will be impact of Digital Rupee on the economy in the future?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/www.caindelhiindia.com\/blog\/digital-rupee\/#What_is_the_impact_of_digital_currency_on_accounting_and_taxation\" title=\"What is the impact of digital currency on accounting and taxation?\">What is the impact of digital currency on accounting and taxation?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/www.caindelhiindia.com\/blog\/digital-rupee\/#What_is_the_motive_of_Govt_of_India_behind_Digital_Rupee\" title=\"What is the motive of Govt of India behind Digital Rupee?\">What is the motive of Govt of India behind Digital Rupee?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/www.caindelhiindia.com\/blog\/digital-rupee\/#What_should_one_learn_from_this\" title=\"What should one learn from this?\">What should one learn from this?<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"A_new_way_of_online_transaction_without_Bank_Account_%E2%80%93_Digital_Rupee\"><\/span><span style=\"color: #ff9900;\"><strong>A new way of online transaction without Bank Account &#8211; Digital Rupee<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<h3><span class=\"ez-toc-section\" id=\"What_is_Digital_Rupee\"><\/span><span style=\"color: #000080;\"><strong>What is Digital Rupee?<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<ul>\n<li>Reserve Bank of India launched Digital rupee and it is considered as a mean to implement monetary policies to provide control growth, stability &amp; influence inflation.<\/li>\n<li>Digital Rupee is a Centrally Backed Digital Currency (CBDC) which is like regular currency notes issued by Reserve Bank of India but in electronic form. It is backed by most secured Blockchain technology \u00a0and the faith and credit of Reserve Bank of India.<\/li>\n<li>The Digital Rupee objective at replacing traditional currency notes and can be used for making and receiving payments via QR codes(a machine-scannable image that can instantly be read using a Smartphone camera) or Via Digital Rupee wallets. Currently it is launched in wholesale format between Banks, later it will be available in retail format with all account holders across banks.<\/li>\n<\/ul>\n<h3><span class=\"ez-toc-section\" id=\"What_are_the_special_features_of_Digital_Rupee\"><\/span><span style=\"color: #000080;\"><strong>What are the special features of Digital Rupee?<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>The Basic features of Digital Rupee are as below mentioned:<\/p>\n<ul>\n<li>Only one Digital Rupee wallet can be linked to a Mobile No.<\/li>\n<li>No bank Account is required to transact Digital Currency.<\/li>\n<li>Digital Rupee can be transacted without the use of Internet.<\/li>\n<li>The Digital Currency is just like normal currency and no interest will be paid for keeping Digital Currency in the e-wallet.<\/li>\n<li>Digital currency is not like Blockchain technology or cryptocurrency the value of Digital Currency does not fluctuate it remains constant over the period of time.<\/li>\n<\/ul>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-5067\" src=\"https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2022\/10\/Norms-for-QR-Code-on-Electronic-Products-via-Legal-Metrology-law.jpg\" alt=\"QR Code on Electronic Products via Legal Metrology law\" width=\"988\" height=\"740\" \/><\/p>\n<h3><span class=\"ez-toc-section\" id=\"How_is_Digital_Rupee_different_from_Cryptocurrency\"><\/span><span style=\"color: #000080;\"><strong>How is Digital Rupee different from Cryptocurrency?<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<ul>\n<li>For Example: \u00a0If you want to buy any vegetable or fruits from the market then you can make the payment via Digital Rupee as a medium of exchange but we cannot use Blockchain technology or Cryptocurrencies to make the payment of the same.<\/li>\n<li>digital currency or Cryptocurrencies are based on blockchain technology where each transaction is publicly recorded for anyone to see, whereas digital rupee is also based on Blockchain technology, but transactions will not be publicly available, However Reserve Bank of India will be able to track to the transactions which are taking place via digital Currency.<\/li>\n<\/ul>\n<h3><span class=\"ez-toc-section\" id=\"What_will_be_impact_of_Digital_Rupee_on_the_economy_in_the_future\"><\/span><span style=\"color: #000080;\"><strong>What will be impact of Digital Rupee on the economy in the future?<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<ul>\n<li>In future the Govt of India may try to regulate several sectors by making Digital rupee as an only medium of exchange in the specific sector.<\/li>\n<li>For example : Govt of India may ask the citizens to transact with govt for making payment of Taxes , water bills , Electricity bills with the help of digital rupee. With the introduction of Digital Rupee ATM(Automated Teller Machine) may also become redundant.<\/li>\n<\/ul>\n<h3><span class=\"ez-toc-section\" id=\"What_is_the_impact_of_digital_currency_on_accounting_and_taxation\"><\/span><span style=\"color: #000080;\"><strong>What is the impact of digital currency on accounting and taxation?<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<ul>\n<li>Digital Rupee will bring transparency in the economy which in turn will help in increasing the tax collection to the Govt of India. Also with new currency being introduced accountants and Chartered Accountants have to perform extra steps &amp; measures to record transactions taking place Via Digital Rupee.<\/li>\n<\/ul>\n<h3><span class=\"ez-toc-section\" id=\"What_is_the_motive_of_Govt_of_India_behind_Digital_Rupee\"><\/span><span style=\"color: #000080;\"><strong>What is the motive of Govt of India behind Digital Rupee?<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>The motive of Govt of India is as follows:<\/p>\n<ul>\n<li>It is easy to keep track of receipts and<\/li>\n<li>Digital Rupee is more secured than carrying physical<\/li>\n<li>Hassle free &amp; Smooth transactions could take place at no<\/li>\n<\/ul>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-7107\" src=\"https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2023\/01\/payment.jpg\" alt=\"payment\" width=\"1006\" height=\"1280\" srcset=\"https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2023\/01\/payment.jpg 1006w, https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2023\/01\/payment-236x300.jpg 236w, https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2023\/01\/payment-805x1024.jpg 805w, https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2023\/01\/payment-768x977.jpg 768w, https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2023\/01\/payment-800x1018.jpg 800w\" sizes=\"(max-width: 1006px) 100vw, 1006px\" \/><\/p>\n<h3><span class=\"ez-toc-section\" id=\"What_should_one_learn_from_this\"><\/span><span style=\"color: #000080;\"><strong>What should one learn from this?<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<ul>\n<li>By bringing Digital Rupee the Govt of India is trying to move towards digitalization and trying to minimize the cash transactions. Digital Rupee will help Govt of India monitor the high valued transactions and bring transparency in the money market.<\/li>\n<li>There are some threats such as centralised data maybe used by someone for other motives and there is lack connectivity in rural areas which may require some time to be developed. Lets see what\u2019s there in upcoming Union Budget 2023 on Digital Currency usage.<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>A new way of online transaction without Bank Account &#8211; Digital Rupee What is Digital Rupee? Reserve Bank of India launched Digital rupee and it is considered as a mean to implement monetary policies to provide control growth, stability &amp; influence inflation. Digital Rupee is a Centrally Backed Digital Currency (CBDC) which is like regular &hellip;<\/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],"tags":[929,965,794],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/posts\/5273"}],"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=5273"}],"version-history":[{"count":5,"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/posts\/5273\/revisions"}],"predecessor-version":[{"id":5275,"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/posts\/5273\/revisions\/5275"}],"wp:attachment":[{"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/media?parent=5273"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/categories?post=5273"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/tags?post=5273"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}