One Step Forward in Digitizing India: Digital Rupee
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.
