CBDC: What Is The RBI's Digital Rupee? | India Tonight

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The Reserve Bank of India released a concept note on the digital rupee on 7th October. Earlier this year, the Government of India had announced the launch of a CBDC in its 2022 Union Budget. Now, the RBI has confirmed it will be launching a pilot programme for the digital rupee. So, what exactly is it?. Essentially, it is a digital version of the Indian rupee. The Indian central bank has proposed 2 versions of the CBDC- wholesale and retail. On ET NOW Rush Hour, we explain what the CBDC is, and how it will be different from cryptocurrencies and e-wallets...tune in!

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What's the difference between using digital transactions Vs using Digital Rupee (currency)

ksh
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Instead of doing these nonsense things, govt should work on improvement of citizens by development of infrastructures like rail, road, electricity. Removal of poverty, improvement of education and health system and many more things.

PlanATrade
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Digital rupee is a great concept but a person can have multiple accounts.
You cannot track someone with an email, phone which might be fake!

PoliticalMatter
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Digital currency must be used for realestate, land buying-selling transactions.
Digital rupee must be convertible to other foreign currencies so that overseas people can send money very easily?

PoliticalMatter
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Unless one wants to engage in illegal transactions, why should one look for anonymity? Purpose of the government has so far been to reduce the money in parallel (cash) economy. Anonymity goes against this aim.

vijayaraghavang
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This is a silly idea to cut the interest of customers. It is like buying a token that I'll keep it in my wallet and use it for transactions and as long I don't use it I won't get any interest in it. The only benefit I see is that my identity my account details a bit hidden from common prying eyes. Nick would have simply created a wallet and we put our money there for transactions keeping our account details hidden. We can already do that by creating a UPI id. From this video, I could get no other sense of it.

koljoy