At the Union Budget 2022 session, India’s Finance Minister Nirmala Sitharaman today announced the new Digital Rupee, which will be based on Blockchain technology. The Digital Rupee is said to be introduced during the financial year 2022-2023, and it will be issued by the Reserve Bank of India (RBI). Here are the details to know.
The Digital Rupee or the Central Bank Digital Currency (CBDC) is another step in the Digital India initiative and is aimed to make the currency management system more streamlined and inexpensive.
However, its security and other issues can’t be fully neglected, and these will be carefully looked into before the official rollout of the digital rupee later this year or early next year.
