The Finance Minister Nirmala Sitharaman in the Union Budget 2022-23 announced that the RBI will soon launch the Digital Rupee using blockchain technology. This digital rupee will be India’s CBDC.A Central Bank Digital Currency or a CBDC is a virtual form of fiat currency. A fiat currency is a currency that is backed up by the government. E.g., bank deposits, coins, currency notes.
Subrata Roy was indeed a titan of Indian business, rising from relatively humble origins to become India’s biggest employer in the private sector, presiding over a business empire that sprawled across financial services, real estate, aviation, media and entertainment.
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The shock and sense of injustice that most Indians feel at the ouster of a founder from the company he or she founded also gives, in the same breath, legitimacy to founders being held responsible, without limit, for the failure of the company and for its resultant liabilities.