Friday, September 22, 2023
Market-Reporter
  • Home
  • Markets
    • U.S. Markets
    • Canada
    • Europe & Middle East
    • Emerging Markets
    • Asia
    • Latin America
  • Investing
    • Stocks
    • IPOs
    • Mutual Funds
    • ETFs
    • Bonds
    • Commodities
    • Currencies
    • Cryptocurrencies
  • Economy & Politics
    • Personal Finance
    • Spending & Saving
    • Retirement
    • Real Estate
No Result
View All Result
  • Home
  • Markets
    • U.S. Markets
    • Canada
    • Europe & Middle East
    • Emerging Markets
    • Asia
    • Latin America
  • Investing
    • Stocks
    • IPOs
    • Mutual Funds
    • ETFs
    • Bonds
    • Commodities
    • Currencies
    • Cryptocurrencies
  • Economy & Politics
    • Personal Finance
    • Spending & Saving
    • Retirement
    • Real Estate
No Result
View All Result
Market-Reporter
No Result
View All Result
Home Currencies

Digital currency model likely by the end of year, says RBI deputy governor T Rabi Sankar

MtR by MtR
August 6, 2021
in Currencies
0
Digital currency model likely by the end of year, says RBI deputy governor T Rabi Sankar


The Reserve Bank of India (RBI) expects to come out with a model for operations of fiat digital currencies by the end of the year, deputy governor T Rabi Sankar said on Friday.

Related articles

Swedish currency to strengthen in long run, Riksbank chief says

Swedish currency to strengthen in long run, Riksbank chief says

September 22, 2023
Medacta Group SA reports strong revenue growth at 21.4% at constant currency and adjusted EBITDA margin at 28.2% in the first semester 2023 -September 22, 2023 at 01:02 am EDT

Medacta Group SA reports strong revenue growth at 21.4% at constant currency and adjusted EBITDA margin at 28.2% in the first semester 2023 -September 22, 2023 at 01:02 am EDT

September 22, 2023

He reiterated that the RBI is internally evaluating the possibility of introducing a fiat digital currency, going into a slew of aspects like its scope, technology, distribution mechanism and validation mechanism.

In a July 22 speech, Sankar had said India is also thinking of a phased introduction of a digital currency saying the time for them is now. China has already started a trial run for its digital currency, while the Bank of England and the US Federal Reserve are also looking at it.

It will be difficult to pin a date on it (introducing DC). We should be able to come out with a model in the near future, probably by the end of this year, Sankar told reporters at the post-policy review press conference.

In the July 22 speech, Sankar had said that such currency is likely to be in the arsenal of every central bank going forward and setting up such a system will require a nuanced approach.

Work on the central bank DC has been on for many years now, which have seen massive popularity gained by private cryptocurrencies like Bitcoin which are based on blockchain technologies.

Speaking at the same press conference, RBI governor Shaktikanta Das made it clear that the central bank continues to have concerns with the private DCs which are not regulated and has conveyed the same to the government.

Meanwhile, he said an expert panel tasked with studying the digital lenders following instances of suicides by borrowers is in the final stages and will be submitting its report by the end of this month. Once the report is received, the RBI will be studying the same and take appropriate action based on the recommendations, Das added.



Source link

Related Posts

Swedish currency to strengthen in long run, Riksbank chief says

Swedish currency to strengthen in long run, Riksbank chief says

by MtR
September 22, 2023
0

The Swedish currency is undervalued and will strengthen in the long run, Riksbank Governor Erik Thedeen said in a speech...

Medacta Group SA reports strong revenue growth at 21.4% at constant currency and adjusted EBITDA margin at 28.2% in the first semester 2023 -September 22, 2023 at 01:02 am EDT

Medacta Group SA reports strong revenue growth at 21.4% at constant currency and adjusted EBITDA margin at 28.2% in the first semester 2023 -September 22, 2023 at 01:02 am EDT

by MtR
September 22, 2023
0

Medacta Group SA / Key word(s): Half Year Results/Half Year ResultsMedacta Group SA reports strong revenue growth at 21.4% at...

Outlaws held hostage FIA team during raid at foreign currency shop

Outlaws held hostage FIA team during raid at foreign currency shop

by MtR
September 22, 2023
0

BUREWALA  -  The outlaws attacked and held hostage the Federal Investigation Agency (FIA) team during a raid at a shop...

Woman gets 10 years in jail for trying to use fake currency note | Mumbai news

Woman gets 10 years in jail for trying to use fake currency note | Mumbai news

by MtR
September 21, 2023
0

Mumbai: The sessions court recently sentenced a woman to ten years of imprisonment for trying to use counterfeit currency while...

Redefining Money: America’s digital currency dilemma

Redefining Money: America’s digital currency dilemma

by MtR
September 21, 2023
0

On Wednesday, Sept. 20, the United States House Financial Services Committee marked up two bills to curb the issuance of...

Load More
  • Trending
  • Comments
  • Latest
Bank of England tells ministers to intervene on digital currency ‘programming’

Bank of England tells ministers to intervene on digital currency ‘programming’

June 21, 2021
Tips for checking smoke alarms during daylight saving time

Tips for checking smoke alarms during daylight saving time

March 12, 2022
GLOBAL MARKETS-U.S. stocks follow Europe up; Treasury yields rise, dollar firm

GLOBAL MARKETS-U.S. stocks follow Europe up; Treasury yields rise, dollar firm

July 9, 2021
What will Durham County education bonds pay for? A full list

What will Durham County education bonds pay for? A full list

July 8, 2022
African currencies week ahead: Zambia's kwacha seen on back foot, Kenyan shilling up – Business Recorder

African currencies week ahead: Zambia's kwacha seen on back foot, Kenyan shilling up – Business Recorder

0
Maxum Foods releases Global Dairy Commodity Update for June

Maxum Foods releases Global Dairy Commodity Update for June

0
Letter: Perpetual bonds can help states fight hunger

Letter: Perpetual bonds can help states fight hunger

0
United Kingdom ETFs Are Riding the Re-Opening Momentum

United Kingdom ETFs Are Riding the Re-Opening Momentum

0
Impact of Canada’s wildfires: Home insurance hikes a given

Impact of Canada’s wildfires: Home insurance hikes a given

September 22, 2023
Stocks to Watch Friday: Alibaba, Activision, Microsoft – The Wall Street Journal

Stocks to Watch Friday: Alibaba, Activision, Microsoft – The Wall Street Journal

September 22, 2023
Japanese Short-Term Bonds Gain Popularity Amid Uncertainty Over Long-Term Rates By Investing.com

Japanese Short-Term Bonds Gain Popularity Amid Uncertainty Over Long-Term Rates By Investing.com

September 22, 2023
European Telecom Industry Gets Mixed Signals From Investors — Talking Markets

European Telecom Industry Gets Mixed Signals From Investors — Talking Markets

September 22, 2023

Recent News

Impact of Canada’s wildfires: Home insurance hikes a given

Impact of Canada’s wildfires: Home insurance hikes a given

September 22, 2023
Stocks to Watch Friday: Alibaba, Activision, Microsoft – The Wall Street Journal

Stocks to Watch Friday: Alibaba, Activision, Microsoft – The Wall Street Journal

September 22, 2023
Japanese Short-Term Bonds Gain Popularity Amid Uncertainty Over Long-Term Rates By Investing.com

Japanese Short-Term Bonds Gain Popularity Amid Uncertainty Over Long-Term Rates By Investing.com

September 22, 2023

Categories

  • Asia
  • Bonds
  • Canada
  • Commodities
  • Cryptocurrencies
  • Currencies
  • Emerging Markets
  • ETFs
  • Europe & Middle East
  • IPOs
  • Latin America
  • Mutual Funds
  • Personal Finance
  • Real Estate
  • Retirement
  • Spending & Saving
  • Stocks
  • U.S. Markets
  • Privacy & Policy
  • About Us
  • Contact Us
  • Advertise with us

© 2021 Copyright Market-Reporter

No Result
View All Result
  • Home
  • Markets
    • U.S. Markets
    • Canada
    • Europe & Middle East
    • Emerging Markets
    • Asia
    • Latin America
  • Investing
    • Stocks
    • IPOs
    • Mutual Funds
    • ETFs
    • Bonds
    • Commodities
    • Currencies
    • Cryptocurrencies
  • Economy & Politics
    • Personal Finance
    • Spending & Saving
    • Retirement
    • Real Estate

© 2021 Copyright Market-Reporter