Source: FT Context: Union Finance Minister stated that nations must “prepare to engage with stablecoins,” as innovations in cryptocurrency are reshaping global monetary systems and could force countries to adapt or risk exclusion. About Stable Coin: What is a Stablecoin? A stablecoin is a type of cryptocurrency that is specifically designed to maintain a stable …
UPSC CURRENT AFFAIRS – 12 November 2024 covers important current affairs of the day, their backward linkages, their relevance for Prelims exam and MCQs on main articles InstaLinks : Insta Links help you think beyond the current affairs issue and help you think multidimensionally to develop depth in your understanding of these issues. …
Source: TH Context: The European Central Bank (ECB) has introduced the digital euro as a central bank digital currency (CBDC) aimed at revolutionizing payment systems. About Digital Euro: What it is: A CBDC issued directly by the ECB, enabling digital transactions without intermediaries like banks or payment gateways. Launch: The preparation phase began in November …
Introduction: Cryptocurrency will be discouraged via taxation and capital gains provisions. Ukraine has been a centre for cryptos trading due to its lax rules and is using them to raise funds for its war with Russia. The Governor of the Reserve Bank of India highlighted two things: First, “private cryptocurrencies are a …
Continue reading “Insights into Editorial: Cryptos and a CBDC are not the same thing”
Topic: Budgeting. 6. A major budget announcement was the launch of central bank digital currency (CBDC). Analyse the various the challenges pertaining to CBDC that must be overcome for it be successful. (250 words) Difficulty level: Moderate Reference: Indian Express Why the question: Finance Minister Nirmala Sitharaman in her fourth budget speech announced that …
Context: In the Budget presented for 2022-23, Finance Minister had announced the introduction of India’s Central Bank Digital Currency (CBDC) and that the digital rupee would give a ‘big boost’ to digital economy. Finance Minister had indicated that technologies such as blockchain would be used by the Reserve Bank of India to issue the …
Continue reading “Insights into Editorial: RBI’s digital currency plans”
GS Paper 2: Topics Covered: Awareness in the fields of IT, Space, Computers, robotics, nano-technology, bio-technology and issues relating to intellectual property rights. Context: The Reserve Bank of India has been working on a phased implementation strategy for a CBDC and the pilot may be launched by the end of this year. The …
GS Paper 2: Topics Covered: Awareness in the fields of IT, Space, Computers, robotics, nano-technology, bio-technology and issues relating to intellectual property rights. Context: The Reserve Bank of India has been working on a phased implementation strategy for a CBDC and the pilot may be launched by the end of this year. The …
