On Dec 1, the Reserve Bank of India introduced the Indian Digital Rupee-R (retail) on a pilot basis with four participating banks. Reserve Bank historian and former central banker Bazil Shaikh explains what a digital rupee is vis a vis traditional money, the advantages and concerns, and its future in cross-border transactions.
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The future is likely to see ‘Big FinTech’ replace ‘Big Tech’. But this time around, India can be part of the story from the ground up. India has been ahead of the fintech game on the technology, regulatory and consumer fronts.
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On the face of it, these digital or virtual currencies seem to be a brave new way to transact business or make an investment, but they also have inherent risks. A T20 proposal is seeking that the G20 devise a regulatory framework that places them on a level playing field with other financial instruments
