Question
Download Solution PDFThe Reserve Bank Of India(RBI) has released a concept note on the CBDC. It is a digital form of currency notes issued by the central bank. Both the C in the acronym stands for _______ and __________respectively.
Answer (Detailed Solution Below)
Detailed Solution
Download Solution PDFThe correct answer is Central, Currency.
Key Points
- Digital rupee (e₹), also known as Central Bank Digital Currency (CBDC), is a digital form of currency notes issued by the central bank, Reserve Bank of India.
- Union Finance Minister Nirmala Sitharaman had earlier announced that the RBI will launch a CBDC in 2022-23, which is the first official statement from the Union government on the much-anticipated digital currency's launch.
- CBDC:
- Central bank digital currencies are digital tokens, similar to cryptocurrency, issued by a central bank.
- They are pegged to the value of that country’s fiat currency.
- Many countries are developing CBDCs, and some have even implemented them.
- Because so many countries are researching ways to transition to digital currencies, it’s important to understand what they are and what they mean for society.
Last updated on Jun 30, 2025
-> The IBPS PO Vacancy 2025 has been released for 5208 Probationary Officer Posts.
-> The Institute of Banking Personnel Selection (IBPS) has officially released the PO Notification 2025 on 30th June 2025.
-> As per the notice, the prelims examination is scheduled for 17th, 23rd, 24th August 2025. The Mains Exam is scheduled for 12th October 2025.
-> The IBPS PO online application dates is from 1st July 2025 to 21st July 2025.
-> The selection process for IBPS PO includes a Preliminary Exam, a Mains Exam, and an Interview.
-> The selected candidates will get a salary pay scale from Rs. 48480 to Rs. 85920.
-> Candidates must download and practice questions from the IBPS PO previous year's papers and IBPS PO mock tests for effective preparation/