Common man will soon be able to use digital money Retail trial will also start this month
The Reserve Bank of India (RBI) launched the pilot project of digital currency on Tuesday i.e. 1 November 2022. On the first day, Rs 275 crore was traded in Government Securities
in the secondary market. Reserve Bank of India Governor Shaktikanta Das said on Wednesday that the retail trial of Digital Rupees will also start from this month. Let us tell you,
at present, the wholesale trial is going on. What is Digital Rupee?
Right now we use notes and coins of Rs 100, 200 issued by Reserve Bank of India (RBI). Its digital
form will be called Digital Rupee. In technical language, it can also be called Central Bank Digital Currency (CBDC). That is, the electronic form of rupees, which we will use
without touching (contactless transactions). Let us tell you, the government had announced this in the budget of 2022. The company will buy back its shares at the rate of ₹ 850
per share, record date announced
What did the RBI governor say about inflation?
Reserve Bank of India (RBI) Governor Shaktikanta Das has defended the
Reserve Bank's way of handling the inflation situation. Speaking at the annual FIBAC conference of bankers here on Wednesday, Das said that taking drastic measures ahead of time
would have cost the economy and citizens a heavy price. Admitting that the inflation target has been missed, Das said the RBI decided to support the economy by not increasing
interest rates aggressively due to the rise in inflation. "We have prevented the economy from being affected completely by not raising interest rates aggressively and refrained
from taking drastic measures prematurely," he said. Shaktikanta Das said that the economy and the people would have to pay a heavy price for taking a quick or aggressive stance, he
said, adding that the monetary policy committee (MPC), which sets the interest rate, is meeting on Thursday to prepare an answer to the government. The RBI governor also defended
the RBI's move not to make public the letter to the government. (with agency input)