RBI Steps Faster Towards Digital Currency

RBI Steps Faster Towards Digital Currency

Publication Date: 12/03/2021 04:47 AM

Mumbai: Anuj Ranjan, Managing Director of RBI Fintech Division, said the Reserve Bank of India (RBI) may announce a proposed digital currency model this month. After that, it can be included in the framework of the pilot project.. He said that the legal changes required to create the digital currency are already in its early stages. “There will be a lot of positive decisions in this direction in the next 3-6 months. The system and design options required for a central bank digital currency (CBDC) are as follows. “The process is already underway,” the official said. Legal changes are necessary to create a digital currency. The Reserve of India is with the government for that. Public confidence will increase with more confidence in the digital currency. Then there will be an economy with less money. Finance Minister Pankaj Chaudhry recently said that the Reserve Bank of India has asked the government to make changes to the RBI Act-1934 to introduce digital currency in Trading along with banknotes.

Cash bond sales are also available on the RBI Retail Direct . portal
The Reserve Bank of India (RBI) said one can also apply to purchase Pacedi bonds through the newly launched RBI Retail Direct portal. The application process for the eighth tranche of the PASD bonds for this fiscal year ends today. So far, only banks, stock exchanges, select post offices and approved stock exchanges have sold bonds in sterling. The Reserve Bank of India (RBI) has announced that it will now allow the purchase of Pacedi bonds through the RBI Retail Direct Portal (: // జజ ౯౯ మ్ “i-”): Prime Minister Narendra Modi launched the RBI Retail Direct scheme last month.

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Reliance Capital begins bankruptcy proceedings
The Reserve Bank of India (RBI) has taken steps to initiate bankruptcy settlement proceedings against Reliance Capital under various sections of the bankruptcy memorandum. The National Corporations Law Tribunal (NCLT) has submitted an application to the Mumbai Bench office. This resulted in the imposition of a temporary suspension on Reliance Capital. Accordingly, no lending institution should sell or transfer the assets of Reliance Capital to anyone. It was learned that the Reserve Bank of India had dissolved the board of directors of Reliance Capital on November 29 after failing to repay loans. Y. Nageshwara Rao (Former CEO of Maharashtra Bank) has been appointed as Director.

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