What is Digital Rupee, how it works
What is the 'Digital Rupee'?
Among the key personal finance announcements that Finance Minister Nirmala Sitharaman announced in her Budget 2022 speech, one was about the Reserve Bank of India (RBI) launching its own digital rupee in financial year 2022-23. This Digital Rupee is a central bank digital currency. FM went on to elaborate on how the introduction of Central Bank Digital Currency (CBDC) would provide a significant boost to the digital economy. Here is all the information on what CBDC is and how it will work, according the RBI.