Explainer: What is CBDC? What is RBI’s ‘Digital Rupee’ Pilot Programme?

A central bank digital currency (CBDC) is a digital currency issued by the central bank of a country. It’s under the jurisdiction of the government of that country. Unlike crypto, CBDC is reliant on a central authority. That’s why it is also known as “digital fiat currency.” The RBI states that CBDC is the legal

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