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E-Rupee CBDC Said to Hit RBI Target of 1 Million Daily Transactions by End of 2023
Indian banks disbursed some employee benefits through the digital rupee in December, helping the Reserve Bank of India meet its target of one million daily transactions by end-2023, three sources directly familiar with the development said.
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Reserve Bank of India Calls on More Lenders to Take Part in Pilot for Retail Digital Rupee: Report
The Reserve Bank of India (RBI) has called on a wider set of lenders to take part in pilot programmes using the central bank digital currency (CBDC) as it tries to increase transactions, three bankers told Reuters on Wednesday. Currently, large state-owned and private lenders, including State Bank of India, Bank of Baroda, ICICI Bank, HDFC Bank, Ko...
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E-Rupee Worth Over Rs. 130 Crore in Circulation, Says FM Nirmala Sitharaman
Finance Minister Nirmala Sitharaman said on Monday that Digital or e-rupee worth over Rs 130 crore was in circulation on a pilot basis as of February 28. "As on February 28, 2023, the total digital rupee - Retail (e₹-R) and digital rupee - wholesale (e₹-W) in circulation is Rs 4.14 crore and Rs 126.27 crore, respectively," Sitharaman said in a ...
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Central Bank Digital Currency Transactions to Remain Anonymous 'To a Certain Degree': RBI
Central bank digital currencies (CBDC) transactions would remain anonymous to a certain degree, Reserve Bank of India Deputy Governor T Rabi Sankar said on Wednesday. The IT department allows cash transactions up to a certain limit to be carried out without government ID proof, but the RBI is yet to clarified the degree to which CBDC transactions w...
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RBI Announces Digital Rupee. E-Rupee To Launch Soon On Pilot Basis
The Reserve Bank of India today said it will soon commence the pilot launch of digital Rupee or e-Rupee for specific use cases as it tests digital currency in India.
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Yes Bank Q2 Profit Falls 3.8% To 965 Crore Rupees, Misses Estimates
Fifteen analysts, on average, had expected a profit of 1,282 billion rupees, according to I/B/E/S data from Refinitiv.
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Dinakaran Arrested, Panneerselvam Camp To Step Up Pressure For Expulsion: 10 Points
Nephew of the jailed AIADMK General Secretary VK Sasikala, TTV Dinakaran was arrested by the Delhi Police around Tuesday midnight on charges of fixing a deal to bribe Election Commission officials to get the party's 'two leaves' election symbol allotted for the Amma faction that he led as his aunt's proxy. The Crime Branch believes that the 27-year...
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As E-Wallets Go Big Amid Cash Crunch, Challenges Remain On The Streets
Since the government banned old 500 and 1,000 rupee notes last month, electronic wallets have had a dream run. According to the Reserve Bank of India, digital wallets like Paytm and MobiKwik have added 1 million users per day since the demonetisation was announced on November 8. But has the experience for users been equally rosy?
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RBI to Issue New Rs 20 Denomination Notes
"The RBI will shortly issue rupees 20 denomination banknotes incorporating rupee symbol, with inset letter E, in the Mahatma Gandhi Series-2005 bearing the signature of Raghuram G Rajan, Governor," RBI said in a release.
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GAAR, rupee scare investors, markets look to Parliament for revival cues
Lack of clarity on GAAR, which will tax capital flows routed via tax havens, has dampened the market sentiment of FIIs - one of the most influential stock market forces. The sharp depreciation of the rupee over last couple of weeks is also taking a heavy toll on trading sentiment. Hence, All eyes will be on the Finance Bill debate in Parliament, st...
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Government's public debt rises in March quarter
Internal debt constituted 89.7 per cent of the total at March 2012 end.
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Excessive risk-taking, leveraging needs to be discouraged: Rangarajan
The Chairman of the Economic Advisory Council to the Prime Minister, Dr C Rangarajan said that the pressure on the rupee will ease as capital flows resume.
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E-Rupee CBDC Said to Hit RBI Target of 1 Million Daily Transactions by End of 2023
Indian banks disbursed some employee benefits through the digital rupee in December, helping the Reserve Bank of India meet its target of one million daily transactions by end-2023, three sources directly familiar with the development said.
-
Reserve Bank of India Calls on More Lenders to Take Part in Pilot for Retail Digital Rupee: Report
The Reserve Bank of India (RBI) has called on a wider set of lenders to take part in pilot programmes using the central bank digital currency (CBDC) as it tries to increase transactions, three bankers told Reuters on Wednesday. Currently, large state-owned and private lenders, including State Bank of India, Bank of Baroda, ICICI Bank, HDFC Bank, Ko...
-
E-Rupee Worth Over Rs. 130 Crore in Circulation, Says FM Nirmala Sitharaman
Finance Minister Nirmala Sitharaman said on Monday that Digital or e-rupee worth over Rs 130 crore was in circulation on a pilot basis as of February 28. "As on February 28, 2023, the total digital rupee - Retail (e₹-R) and digital rupee - wholesale (e₹-W) in circulation is Rs 4.14 crore and Rs 126.27 crore, respectively," Sitharaman said in a ...
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Central Bank Digital Currency Transactions to Remain Anonymous 'To a Certain Degree': RBI
Central bank digital currencies (CBDC) transactions would remain anonymous to a certain degree, Reserve Bank of India Deputy Governor T Rabi Sankar said on Wednesday. The IT department allows cash transactions up to a certain limit to be carried out without government ID proof, but the RBI is yet to clarified the degree to which CBDC transactions w...
-
RBI Announces Digital Rupee. E-Rupee To Launch Soon On Pilot Basis
The Reserve Bank of India today said it will soon commence the pilot launch of digital Rupee or e-Rupee for specific use cases as it tests digital currency in India.
-
Yes Bank Q2 Profit Falls 3.8% To 965 Crore Rupees, Misses Estimates
Fifteen analysts, on average, had expected a profit of 1,282 billion rupees, according to I/B/E/S data from Refinitiv.
-
Dinakaran Arrested, Panneerselvam Camp To Step Up Pressure For Expulsion: 10 Points
Nephew of the jailed AIADMK General Secretary VK Sasikala, TTV Dinakaran was arrested by the Delhi Police around Tuesday midnight on charges of fixing a deal to bribe Election Commission officials to get the party's 'two leaves' election symbol allotted for the Amma faction that he led as his aunt's proxy. The Crime Branch believes that the 27-year...
-
As E-Wallets Go Big Amid Cash Crunch, Challenges Remain On The Streets
Since the government banned old 500 and 1,000 rupee notes last month, electronic wallets have had a dream run. According to the Reserve Bank of India, digital wallets like Paytm and MobiKwik have added 1 million users per day since the demonetisation was announced on November 8. But has the experience for users been equally rosy?
-
RBI to Issue New Rs 20 Denomination Notes
"The RBI will shortly issue rupees 20 denomination banknotes incorporating rupee symbol, with inset letter E, in the Mahatma Gandhi Series-2005 bearing the signature of Raghuram G Rajan, Governor," RBI said in a release.
-
GAAR, rupee scare investors, markets look to Parliament for revival cues
Lack of clarity on GAAR, which will tax capital flows routed via tax havens, has dampened the market sentiment of FIIs - one of the most influential stock market forces. The sharp depreciation of the rupee over last couple of weeks is also taking a heavy toll on trading sentiment. Hence, All eyes will be on the Finance Bill debate in Parliament, st...
-
Government's public debt rises in March quarter
Internal debt constituted 89.7 per cent of the total at March 2012 end.
-
Excessive risk-taking, leveraging needs to be discouraged: Rangarajan
The Chairman of the Economic Advisory Council to the Prime Minister, Dr C Rangarajan said that the pressure on the rupee will ease as capital flows resume.
