Insights into Editorial: Cryptos and a CBDC are not the same thing

     Introduction: Cryptocurrency will be discouraged via taxation and capital gains provisions. Ukraine has been a centre for cryptos trading due to its lax rules and is using them to raise funds for its war with Russia.   The Governor of the Reserve Bank of India highlighted two things: First, “private cryptocurrencies are a …

A major budget announcement was the launch of central bank digital currency (CBDC). Analyse the various the challenges pertaining to CBDC that must be overcome for it be successful.(250 words)

Topic: Budgeting. 6. A major budget announcement was the launch of central bank digital currency (CBDC). Analyse the various the challenges pertaining to CBDC that must be overcome for it be successful.  (250 words) Difficulty level: Moderate Reference: Indian Express   Why the question: Finance Minister Nirmala Sitharaman in her fourth budget speech announced that …

Insights into Editorial: RBI’s digital currency plans

  Context: In the Budget presented for 2022-23, Finance Minister had announced the introduction of India’s Central Bank Digital Currency (CBDC) and that the digital rupee would give a ‘big boost’ to digital economy. Finance Minister had indicated that technologies such as blockchain would be used by the Reserve Bank of India to issue the …