As per the CashlessConsumer tracker, so far, there have been over 2 million installs of CBDC eRupee apps from Google Play, and as per the RBI Annual Report 2023, Rs 5.7 cores worth of eRupee retail has been issued till the financial year 2022-23, Lakshman informed us. Article continues...
Annual Economic Report. Google Scholar Boar, C., & Wehrli, A. (2021). Ready, Steady, Go?‐results of the Third Bis Survey on Central Bank Digital Currency. BIS Papers No. 114. Google Scholar Bordo, D., (2021). Central Bank Digital Currency in the Historical Perspective: Another ...
The number of monthly transactions reached beyond the 900-crore in May 2023. The growth in the volume of UPI transactions has been above 50% y-o-y. According to the RBI’s annual report for 2022-23, UPI-led retail digital payments have shown a growth at a CAGR of 50% in volume and...
The Central Bank stated that it aims to expand the scope of CBDCs with new technology and more participants by enabling offline functionality, programmability, cross-border transactions, and tokenisation of assets in itsannual report 2023-24. The RBI also intends to explore the potential of CBDCs...
The rate of interest must be annualised rate so that the borrower is aware of the exact rates that would be charged to the account. Usually, it is believed that if a penal or disciplinary action is taken against some, it is in relation to aberrations by the respective entities. While ot...
Traditionally, the report has only included historical data. For the first time, the RBI announced that it is for the first time attempting, based on the information available, a provisional estimate of productivity for the total economy for the fiscal year 2023–2024. ...
On December 26, 2023, the RBI published a draft licensing framework for authorized persons under the FEMA Act of 1999. The proposed norms aim to simplify transactions for every applicant entity by introducing Forex Correspondent Schemes (FCS). Further, the scheme provided for the following: Introdu...
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© 2023 General Electric Company 57 -or- • If you want to generate an Asset Risk report, select RBI 580 Asset Risk Report. The Asset Risk report appears. 58 © 2023 General Electric Company Access the Risk Matrix for an RBI Criticality Analysis Procedure 1. Access the analysis ...
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