Bookmark Kaumudi Online  Bookmark this site  Editor@Kaumudi  |  Marketing  Print Advt rates  |  Calendar 2018        Go!    
 
 
July 21, Saturday 2018 3:15 PM       

       HEADLINES: Mother and son found hanging                                              “Government complete failure in tackling monsoon calamities”: Chennithala                                              PM’s stand towards all-party delegation calls for protest: CPM                                              Modi mocks Rahul over his gesture, says he is in 'hurry' to get PM's chair                                              Death in pothole accidents on roads 'frightening': SC                                              Ammunition room hidden in  Red Fort                                              Rape attempt: Temple priest arrested in Haryana                                              15 injured as school bus falls off bridge in Chattisgarh                                              Indian detainees in US not handcuffed, says volunteer                                              Trump invites Putin to US for talks amidst backlash over first summit in Helsinki                                              Heat wave has Tokyo residents concerned about Olympics                                              Ramanathan enters semifinals, Paes out of Hall of Fame Open                                              Kaumudi Facebook
       BUSINESS Next Article: Aadhaar cannot stop bank frauds: SC  
       RBI looking to introduce central digital currency
 
         Posted on :23:58:38 Apr 5, 2018
   
A A
       Last edited on:23:58:38 Apr 5, 2018
         Tags: RBI, central digital currency
 
NEW DELHI: The Reserve Bank of India (RBI) on Thursday that it is looking at the possibility of introducing a 'central bank digital currency', reports TOI.
 
Briefing the media at the end of the two-day meeting of Monetary Policy Committee (MPC) of the RBI, Deputy Governor B P Kanungo said, "While many central banks are still engaged in the debate, an inter-departmental group has been constituted by the Reserve Bank to study and provide guidance on the desirability and feasibility to introduce a central bank digital currency."
 
The report will be submitted by end-June 2018, he added.
 
Explaining its rationale behind the central digital currency, RBI said technological innovations, including virtual currencies, have the potential to improve the efficiency and inclusiveness of the financial system.
 
The RBI has also directed banks and regulated entities not to deal with or provide services to individuals or businesses dealing in virtual currencies.
 
"Reserve Bank has repeatedly cautioned users, holders and traders of virtual currencies, including Bitcoins, regarding various risks associated in dealing with such virtual currencies. In view of the associated risks, it has been decided that, with immediate effect, entities regulated by RBI shall not deal with or provide services to any individual or business entities dealing with or settling VCs. Regulated entities which already provide such services shall exit the relationship within a specified time," a statement issued by the RBI stated.
 
The statement said that a separate circular will be issued in this regard.
A A
       BUSINESS
Next Article: Aadhaar cannot stop bank frauds: SC
 
 
BUSINESS HEADLINES
Rupee recovers from record lows, up 9 paise against US dollar  
Google to string undersea cable from France to Virginia  
Sensex slides 146 pts on profit-booking, political developments  
India prepared to impose 'safeguards' if steel imports rise: government source  
Nickel falls on lower demand  
May announces new 2 bn pounds UK-Italian fighter jet project  
Infosys shares soar 6% after Q1 earnings  
Rupee slips 6 paise against US dollar  
Niti Aayog working on proposal to replace LPG subsidy with cooking subsidy: Kumar  
India to be $10 trillion economy by 2030: Garg  
No question of closure of DCI; 3 ports to pick up govt stake: Gadkari  
India to be $10 trillion economy by 2030: Garg  
Markets slip from record to end flat on profit-booking  
Markets slip from record to end flat on profit-booking  
No question of closure of DCI; 3 ports to pick up govt stake: Gadkari  
Retail inflation rises to 5 percent in June  
Retail inflation soars to 5% in June, IIP presides to 3.2% in May  
Indian Army signs MoU with SBI on salary package  
US dollar ends sharply lower against rupee  
Gold, silver recover on mild demand  
BSNL starts first internet telephony service in India  
Sensex nears all-time high; TCS shines on Q1 show  
Gold futures gain 0.06% on global cues  
Goyal asks Coal India to ensure supply for power sector  
Grex Alternative Investments Market looks to raise $100 mln  
 
Do you think Rahul Gandhi acted like a joker in Parliament on Friday?
yes
 
no
 
no opinion
 
 
 
Home Kerala India World Business Sports Sci&Tech Education Automobile CityNews Movies Environment Letters 
© Copyright keralakaumudi Online 2011  |  Reproduction in whole or in part without written permission is prohibited.
Head Office Address: Kaumudi Buildings, Pettah P.O, Trivandrum - 695024, India.
Online queries talk to Deepu Sasidharan, + 91 98472 38959 or Email deepu[at]kaumudi.com
Customer Service -Advertisement Disclaimer Statement   |  Copyright Policy