The Governor of the Central Bank of India talked about the Central Bank Digital Currency (CBDCs) development works, during his speech at the Global Fintech Festival.
India is a tech-adaptive country and the Reserve Bank of India (RBI), which is the central bank of the nation, has been working on blockchain technology adoption in the payment system for many years. However, RBI believes in blockchain technology but does not love crypto. Once RBI imposed a banking services ban on all crypto companies but later the Supreme court of India rejected the decision of RBI and ordered all banks to provide services to crypto platforms.
On 20 September, During a speech at the Global Fintech Festival in Mumbai, Shaktikanta Das, the Governor of the Reserve Bank of India, said that tech innovation and fintech companies are working to bring innovations to the country. On the other hand, RBI will start issuing digital rupees, or say Central Bank Digital Currency (CBDC), during the current fiscal year.
Shaktikanta said:
“Technology, innovation, and fintech are working in tandem and contributing to the dynamism of this sector.”
Further, he added that a new Fintech company under RBI will help to create innovations to boost this sector and implement CBDCs.
“We have created a new FinTech Department in the RBI from January 2022 to give focused attention to this evolving and dynamic sector. Further, the RBI is now actively working towards a phased implementation of Central Bank Digital Currency (CBDC) in both wholesale and retail segments.”
It is interesting to note that here Indian Central Bank is planning to introduce two different kinds of CBDCs, one for banking institutions and the other for retail users.
However Indian Central Bank is not in favor of crypto adoption but still, Indian finance minister Nirmala Sitharaman supported this industry as a new tax source for the government and also once she said that people should wait for a better regulatory framework because it will take time.
Read also: U.S. Treasury Department asking for public opinion on crypto illegal use
India’s RBI working towards a phased implementation of CBDC
https://bitcoinik.com/indias-rbi-working-towards-a-phased-implementation-of-cbdc/feed/
https://bitcoinik.com/indias-rbi-working-towards-a-phased-implementation-of-cbdc/feed/
Moon Grid trading bot
OKX’s new Moon Grid bot automatically buys low and
sells high within a wide price range using artificial intelligence based on market backtesting.
Quick to set up with smart entry and exit points!
How does it work?
- Select Trade in the main menu, then select Trading bot.
- Select a spot trading pair from the Trading bot menu.
- Select Moon Grid from the listed strategies.
- Enter the amount you want the bot to trade and click Create.
- Your bot will then be live.
- To view and manage your Moon Grid bot, select Bots at the bottom of the trading dashboard.
—————————————————————————————————————————————-
Risk Reminder:
Trading foreign exchange and/or contracts for differences on margin carries a high level of risk and may not be suitable for all investors.
The possibility exists that you could sustain a loss in excess of your deposited funds.
Before deciding to trade the products reviewed by Cryptonews24.eu, you should carefully consider your objectives, financial situation, needs and level of experience.
You should be aware of all the risks associated with trading on margin.
Cryptonews24.eu provides general news and advice that does not consider your objectives, financial situation or needs.
The content of this website must not be construed as personal advice.
Cryptonews24.eu recommends you seek advice from a separate financial advisor.
Nothing on this website should be considered financial advice.
This website is for informational purposes only and you should not rely on anything that is printed or said on this website to make any financial decisions.
