Definition
The full form of CBDC is Central Bank Digital Currency. In India, it’s also called the Digital Rupee. It is a government-backed digital version of a nation’s fiat currency.
How It Works
Issued by the Reserve Bank of India (RBI), CBDC is stored in a digital wallet and can be used for secure payments, just like cash but in electronic form.
Benefits
CBDC promotes financial inclusion, reduces cash handling, and enables faster cross-border transactions.
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