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- RBI Governor Sanjay Malhotra urges states to ensure quality spending, prudent borrowing
Addressing the 36th conference of state finance secretaries at the Mint Road, Malhotra appealed the state ...More
Addressing the 36th conference of state finance secretaries at the Mint Road, Malhotra appealed the states to onboard onto the Unified Lending Interface (ULI) and utilise Programmable Central Bank Digital Currency (P-CBDC) for Direct Benefit Transfers (DBT). ...Less
- Can Bitcoin hit $100,000 in the next 12 months? Michael Saylor’s 4-year bull run forecast explained
Michael Saylor believes Bitcoin could return to $100,000 within the next 12 months as a new bull market b ...More
Michael Saylor believes Bitcoin could return to $100,000 within the next 12 months as a new bull market begins. The Strategy chairman sees a potential four-year rally, but admits the cryptocurrency’s six-figure comeback by the end of 2026 is far from certain. ...Less
- Zcash soars 3,000%: Why Bitcoin billionaires are betting on the privacy coin
Zcash has surged about 3,000% over the past year, attracting investment from the Winklevoss twins and Bar ...More
Zcash has surged about 3,000% over the past year, attracting investment from the Winklevoss twins and Barry Silbert. Their mining operations and ETF plans are expanding as renewed interest in crypto privacy brings fresh attention to the token, alongside security and regulatory concerns. ...Less
- An Australian couple who retired and live in Queensland put $48,000 into Bitcoin in 2019. Four years later, they cashed out nearly $500,000
Terry and Justine Sanders invested $48,000 in Bitcoin in 2019 and cashed out nearly $500,000 four years l ...More
Terry and Justine Sanders invested $48,000 in Bitcoin in 2019 and cashed out nearly $500,000 four years later. The Queensland retirees’ success came during a period of sharp price swings. While their investment changed their lives, financial regulators warn that cryptocurrency can expose retirees to substantial losses when markets fall. ...Less
- ISB programme explores AI’s growing role in the future of digital finance
The Executive Programme in Fintech and AI at ISB is crafted to equip finance professionals with cutting-e ...More
The Executive Programme in Fintech and AI at ISB is crafted to equip finance professionals with cutting-edge skills in financial services. Spanning 32 weeks, this program offers live online sessions alongside engaging experiential learning. Participants will delve into real-world applications of fintech, artificial intelligence, and blockchain. Tailored for senior finance leaders, this course seeks to enhance strategic decision-making. Applications for the next cohort are now open, creating valuable networking opportunities. ...Less
- India-Chile trade negotiations: A quiet and strategic deal beyond tariffs
India and Chile are progressing with negotiations for a Comprehensive Economic Partnership Agreement to e ...More
India and Chile are progressing with negotiations for a Comprehensive Economic Partnership Agreement to enhance trade relations. The agreement will focus on sectors such as digital services, critical minerals, and investment. Both nations seek to diversify their trade partnerships and reduce reliance on single markets, particularly in mineral exports. ...Less
- RBI remains cautious on crypto, backs underlying technology: Governor Sanjay Malhotra
India's cautious approach towards cryptocurrencies emphasises the importance of underlying technologies l ...More
India's cautious approach towards cryptocurrencies emphasises the importance of underlying technologies like distributed ledger and tokenisation. RBI Governor Sanjay Malhotra expressed concerns regarding monetary sovereignty and its effects on capital flows. While domestic payments are efficient, challenges remain in cross-border transactions, which may benefit from central bank digital currencies. The rising public debt and bond yield movements reflect the increased spending attributed to artificial intelligence. ...Less
- Parliamentary panel may recommend stricter monitoring of crypto transactions in India
A committee in Parliament is in the process of exploring the legal avenues for regulating cryptocurrency ...More
A committee in Parliament is in the process of exploring the legal avenues for regulating cryptocurrency transactions and assets within India. They aim to identify technological strategies for tracking these digital assets responsibly. Highlighting the government's earlier stance on cryptocurrencies as unregulated and risky, recent notices under the Prevention of Money Laundering Act have been dispatched. ...Less
- Redefining global finance: Emergence of alternative payment infrastructure
Chairman of PSB Bank Petr Fradkov, in an interview with RBC, discusses what is happening in one of the mo ...More
Chairman of PSB Bank Petr Fradkov, in an interview with RBC, discusses what is happening in one of the most closed sectors of the economy, cross-border payments, and how the A7 international payment system operates, which essentially lacks international payments. ...Less
- Why is Bitcoin price up today? BTC rebounds to $86,682 as crypto-market gains
Bitcoin is trading at $86,682.15 after rising $3,234.06 over where it was this morning. The cryptocurrenc ...More
Bitcoin is trading at $86,682.15 after rising $3,234.06 over where it was this morning. The cryptocurrency is up 3.88% from yesterday, and up 12.13% from the same time last year. However, it continues to be down 28.13% from its price a year ago. ...Less
- Bitcoin skyrocketed 750% since Warren Buffett called it 'rat poison' in 2018. Why was he cautious?
Bitcoin has surged around 750% since Warren Buffett called it “rat poison squared” in 2018, despite his l ...More
Bitcoin has surged around 750% since Warren Buffett called it “rat poison squared” in 2018, despite his longstanding concerns about cryptocurrencies. The digital asset has since hit record highs above $126,000, driven by growing institutional and investor interest, before correcting sharply. Here’s why Buffett remained cautious about Bitcoin. ...Less
- Rupee, dirham and UPI: India, UAE push cross-border trade without friction
India and the UAE are working towards enhancing bilateral trade by adopting local currency transactions a ...More
India and the UAE are working towards enhancing bilateral trade by adopting local currency transactions and payment system integration. The two countries aim to reduce transaction costs, improve payment access, and settle international trade using Indian rupees and UAE dirhams. Various sectors, including energy and technology, will see increased investment opportunities as a result of these initiatives. ...Less
- Global Market: ECB launches blockchain payment service, to invest in digital securities
The European Central Bank launched Pontes, a new service connecting its payment infrastructure with block ...More
The European Central Bank launched Pontes, a new service connecting its payment infrastructure with blockchain markets for euro settlements. The ECB also plans to invest a portion of its EUR 23 billion own funds in digital securities, while developing a retail digital euro targeted for a 2029 release. ...Less
- Russia will discuss digital currencies payments with BRICS+ partners at India summit
Russia will discuss digital currency trade settlements with BRICS+ partners this week. President Vladimir ...More
Russia will discuss digital currency trade settlements with BRICS+ partners this week. President Vladimir Putin will attend the BRICS+ summit in New Delhi. He will promote security, economy, finance, and culture at the meeting. The summit is scheduled to take place on September 12-13. Discussions will focus on future trade settlement mechanisms. ...Less
- India, Russia explore digital currency payments for trade in cross-border breakthrough
India and Russia are exploring digital currency payments for bilateral trade, potentially opening a faste ...More
India and Russia are exploring digital currency payments for bilateral trade, potentially opening a faster route for cross-border settlements as BRICS seeks alternatives to traditional payment systems. Sberbank CEO Herman Gref said the initiative could support trade expansion, while Russian companies’ rupee holdings and the widening trade imbalance remain key challenges. ...Less
- Making a dollar detour: Why BRICS isn’t breaking up with the dollar
The latest BRICS declaration emphasizes interoperable payment systems and local currency settlement. It e ...More
The latest BRICS declaration emphasizes interoperable payment systems and local currency settlement. It explicitly avoids proposing a common BRICS currency or linking central bank digital currencies. This approach acknowledges the impracticality of a unified currency due to diverse economic conditions. BRICS countries aim to reduce dollar dependence through enhanced payment choices and national currency use. The focus remains on practical cooperation rather than a monetary union. ...Less
- UPI MDR kicks in October 15: RBI DG says merchant fee on payments above Rs 2,000 won’t trigger cash surge
In a recent statement, RBI Deputy Governor Shirish Chandra Murmu clarified that adopting a Merchant Disco ...More
In a recent statement, RBI Deputy Governor Shirish Chandra Murmu clarified that adopting a Merchant Discount Rate won't necessarily encourage more cash transactions. He highlighted the intriguing trend where digital transactions grow while cash circulation also rises, asserting that cash fulfills dual purposes as a transaction method and a valuable resource. ...Less
- 5 world market themes for the week ahead
With the Federal Reserve and the Bank of Japan set to make pivotal interest rate decisions against a back ...More
With the Federal Reserve and the Bank of Japan set to make pivotal interest rate decisions against a backdrop of escalating energy prices, global financial markets brace for change. Meanwhile, BRICS leaders convene in India to explore the integration of central bank digital currencies for seamless payments. In Sweden, the election landscape intensifies, hinting at a surge in far-right political influence. ...Less
- Demat 2.0 will bring instant bond settlement closer, trading after regulation and market readiness: NSDL MD
Demat 2.0 can allow investors to receive tokenised bonds instantly against payments made through the cent ...More
Demat 2.0 can allow investors to receive tokenised bonds instantly against payments made through the central bank digital currency (CBDC), significantly reducing the time gap in securities settlement, NSDL Managing Director Vijay Chandok said, while noting that wider trading will depend on regulatory approval and market readiness. ...Less
- Oh, Let’s Look Beyond AAA: A new market-making framework could make lower-rated corporate bonds more investible
India's financial landscape is undergoing significant transformation with innovative tokenisation efforts ...More
India's financial landscape is undergoing significant transformation with innovative tokenisation efforts. A new regulatory framework is being proposed to enhance the liquidity of corporate bonds. Issues of ₹200 crore and above, rated AA or lower, will benefit from market makers' participation. This initiative aims to establish a robust two-way market, thereby improving liquidity, lowering borrowing costs, and broadening investor options. ...Less
- Demat 2.0 explained: Why it matters for bond market investors
In an innovative move, Sebi has rolled out Demat 2.0, a pilot scheme aimed at tokenising corporate bonds. ...More
In an innovative move, Sebi has rolled out Demat 2.0, a pilot scheme aimed at tokenising corporate bonds. This initiative facilitates rapid settlement and instant fund retrieval for investors. It automates interest and redemption payments through smart contracts, while atomic settlement mitigates risks by coordinating the release of bonds and payments seamlessly. Future developments will broaden this system's reach to secondary markets and individual investors. ...Less
- India's BRICS play may have a payment plan with no hard cash
India is unlikely to back a common BRICS currency at the September 12-13 summit, instead favouring links ...More
India is unlikely to back a common BRICS currency at the September 12-13 summit, instead favouring links between national payment systems and CBDCs to make cross-border transactions faster and cheaper. The story traces India’s opposition to a new BRICS currency, Trump’s tariff threats, the RBI’s push for CBDC interoperability, and the technical and trade hurdles that could stand in the way. ...Less
- BRICS can boost local-currency trade with deeper financial markets, stronger banking links: Experts
BRICS nations can boost trade and investment by deepening financial markets. Experts suggest using local ...More
BRICS nations can boost trade and investment by deepening financial markets. Experts suggest using local currencies more often for transactions. Linking payment platforms and exploring CBDCs will speed up cross-border payments. Reducing non-tariff barriers will also enhance intra-BRICS trade significantly. Greater trust and business partnerships are key for future economic cooperation. ...Less
- RBI explores tokenising gold amid push to expand Unified Markets Interface
The Reserve Bank of India is exploring gold tokenisation for its Unified Markets Interface. This platform ...More
The Reserve Bank of India is exploring gold tokenisation for its Unified Markets Interface. This platform currently settles tokenised financial instruments using central bank digital currency. RBI aims to expand the interface to include more asset classes beyond existing tested instruments. While gold is a possibility, other financial assets are also under examination. The central bank is carefully considering potential regulatory and systemic risks associated with these expansions. ...Less
- Sebi completes first phase of Demat 2.0 bond pilot; secondary trading next: Tuhin Kanta Pandey
The Securities and Exchange Board of India (SEBI) has completed the first phase of its Demat 2.0 pilot fo ...More
The Securities and Exchange Board of India (SEBI) has completed the first phase of its Demat 2.0 pilot for corporate bonds and will next bring secondary-market trading into the new technology framework, SEBI Chairman said on Thursday. ...Less
- Russia’s Sberbank plans major India push, to build business hub
Sberbank CEO Herman Gref announced plans for new financial and technology infrastructure tools. The bank ...More
Sberbank CEO Herman Gref announced plans for new financial and technology infrastructure tools. The bank will establish the largest Russian business hub in India, expanding its presence. Sberbank has been developing its financial business in India for sixteen years. Money transfers between India and Russia now take only minutes, improving business opportunities. Two office buildings are under construction and will be commissioned in 2028. ...Less
- BRICS finance chiefs urge reform of global development financial institutions
BRICS finance ministers and central bank governors are calling for essential reforms within global instit ...More
BRICS finance ministers and central bank governors are calling for essential reforms within global institutions, with an aim to amplify the role of emerging market economies in international decision-making while advocating for enhanced compatibility of payment systems among member states. ...Less
- World’s biggest handshake at BRICS: Can it shake the world order?
Modi, Xi and Putin’s BRICS meeting carries symbolic weight, but its impact will depend on deliverables. A ...More
Modi, Xi and Putin’s BRICS meeting carries symbolic weight, but its impact will depend on deliverables. An expanded, divided BRICS faces internal contradictions and lacks strong institutional mechanisms. India seeks strategic autonomy, while Russia and China push alternatives to Western systems. ...Less
- REC set to debut tokenised corporate bond sale next week: Bankers
India will launch tokenized corporate bonds next week using blockchain technology. State-run REC aims to ...More
India will launch tokenized corporate bonds next week using blockchain technology. State-run REC aims to raise five billion rupees through these innovative debt instruments. This marks India's first debt issue with instant settlement capabilities on a blockchain. The Reserve Bank of India's digital currency will facilitate these bond transactions. Only investors with active digital wallets can participate in this upcoming sale. ...Less
- BRICS Summit in New Delhi: The grand finale is India's moment to navigate a bigger, and more divided bloc
India hosts the BRICS summit, aiming to unify the expanded group. The enlarged bloc now includes major en ...More
India hosts the BRICS summit, aiming to unify the expanded group. The enlarged bloc now includes major energy producers and consumers, fostering economic cooperation. New Delhi seeks to increase intra-BRICS trade and reduce dollar dependence through local currencies. Energy security presents a clear common interest for the diverse member nations. This summit tests BRICS' ability to find common ground and exert global influence. ...Less
- BRICS fin mins, central bank chiefs raise concerns on unilateral trade and finance-related measures
BRICS finance ministers and central bank governors voiced concerns over unilateral trade measures. They b ...More
BRICS finance ministers and central bank governors voiced concerns over unilateral trade measures. They backed efforts for cross-border payment interoperability and local-currency settlements. The group also called for reforms of international financial institutions for greater representation. Development finance and customs cooperation initiatives were also discussed by the members. ...Less
- Party's over for crypto scammers who went on a spending spree after a $240 million bitcoin theft
In a bold social engineering heist, young con artists pilfered over $240 million in bitcoin, leading to a ...More
In a bold social engineering heist, young con artists pilfered over $240 million in bitcoin, leading to an extravagant month of luxury splurges, complete with stylish mansions. The FBI has arrested Malone Lam, alleged leader of the gang, alongside 17 others, underscoring a disturbing trend of cryptocurrency frauds reported to them. With rising criminal activity, law enforcement is intensifying efforts to prosecute these offenders and reclaim the misappropriated assets. ...Less
- Sebi launches Demat 2.0 pilot for tokenised corporate bonds
Sebi has launched Demat 2.0, a pilot for tokenised corporate bonds using distributed ledger technology an ...More
Sebi has launched Demat 2.0, a pilot for tokenised corporate bonds using distributed ledger technology and wholesale e-rupee settlement. REC, L&T and IIFL have raised Rs 1,025 crore, while future phases will enable trading and retail investor access in India. ...Less
- Putin pitches NDB investment platform to deepen BRICS trade, technology ties
Russian President Vladimir Putin proposed an NDB-based investment platform to fund trade, infrastructure, ...More
Russian President Vladimir Putin proposed an NDB-based investment platform to fund trade, infrastructure, logistics and technology projects across BRICS, while stressing the grouping was not directed against other countries. He highlighted transport corridors, AI, finance and business cooperation as BRICS seeks greater economic resilience and reduced reliance on Western-led institutions. ...Less
- India to pitch central bank digital currencies to BRICS partners at meet
The global grouping celebrates 20 years at the New Delhi summit on September 12-13. A high-level meeting ...More
The global grouping celebrates 20 years at the New Delhi summit on September 12-13. A high-level meeting would be held next week to thrash out mechanisms for use of digital currencies, and explore ways to increase intra-BRICS trade using national currencies, said the people mentioned above. ...Less
- Elephant, Dragon & Bear: Modi, Xi and Putin may converge at BRICS for a big power play
Prime Minister Narendra Modi will host Chinese President Xi Jinping and Russian President Vladimir Putin ...More
Prime Minister Narendra Modi will host Chinese President Xi Jinping and Russian President Vladimir Putin this weekend. Xi's visit marks his first trip to India in nearly seven years. Modi meets Putin on Friday, and a Modi-Xi meeting is widely expected. India's chairship focuses on practical economic cooperation and resilience. The summit's outcomes will determine the substance behind the leaders' appearances. ...Less
- BRICS 2026: From bigger to better? The New Delhi summit may put trade, tech and energy in focus
BRICS 2026 will test whether the expanded 11-member grouping can translate its growing economic and geopo ...More
BRICS 2026 will test whether the expanded 11-member grouping can translate its growing economic and geopolitical weight into practical cooperation. With trade, payments, startups, AI, energy, critical minerals and climate finance on the agenda, India’s presidency faces a tougher challenge: building consensus among members whose strategic interests often diverge. ...Less
- Cross-border fintechs are still competing with banks, not each other: Skydo’s Movin Jain
Skydo co-founder Movin Jain says fintechs together account for only 1-2% of the market, making category c ...More
Skydo co-founder Movin Jain says fintechs together account for only 1-2% of the market, making category creation a bigger priority than competing on price. ...Less
- BIS chief Pablo Hernández de Cos warns of a second-round inflation threat from energy prices
Central banks must monitor energy price impacts and potential second-round inflation effects. Global regu ...More
Central banks must monitor energy price impacts and potential second-round inflation effects. Global regulatory coordination is crucial for advanced AI technology challenges. Stablecoins require careful regulation to mitigate negative economic spillovers. Economies can build inventories, diversify, and develop technology for resilience. The BIS supports tokenization within traditional banking systems for stability. ...Less
- Cash no king, but don't stash it: India wants a digital economy, but cash still holds the power of choice
Despite government promotion of digital transactions like UPI and e-Rupee, cash remains prevalent, especi ...More
Despite government promotion of digital transactions like UPI and e-Rupee, cash remains prevalent, especially in rural areas and for large-value transactions. While digital payments offer convenience, they have also led to increased cyber fraud and financial exclusion, particularly for women. The article suggests the government's push for digitalization may stem from a desire for control and programmatic payment disbursement rather than genuine welfare improvement. ...Less
- Delhi Lakshmi Yojana RD maturity set for July 2029, year of next Lok Sabha polls
The Delhi Lakshmi Yojana's recurring deposit matures on July 31, 2029. Eligible women receive Rs 2,500 mo ...More
The Delhi Lakshmi Yojana's recurring deposit matures on July 31, 2029. Eligible women receive Rs 2,500 monthly, with Rs 1,500 in RD and Rs 1,000 via digital currency. Aadhaar enrolment is facilitated for beneficiaries without the identity number. The Council of Ministers can review and change the maturity period after two years. This scheme supports up to 17 lakh eligible women across Delhi. ...Less
- India plans first tokenised bond issue in September: Report
India is set to roll out tokenised corporate bonds next month, utilizing blockchain technology to facilit ...More
India is set to roll out tokenised corporate bonds next month, utilizing blockchain technology to facilitate immediate transaction settlements. The state-owned REC will be at the forefront of issuing these innovative bonds, which will require investors to possess both digital currency and securities wallets. This initial phase is designed for a limited number of selected investors, showcasing the potential of modern financial practices. ...Less
- Inter-ministerial group suggests banning of private cryptocurrencies in India
It, however, pitched for introduction of an official digital currency with a status of a legal tender and ...More
It, however, pitched for introduction of an official digital currency with a status of a legal tender and appropriately regulated by the Reserve Bank of India. ...Less
- RBI launches digital currency retail sandbox
The Reserve Bank of India has launched a retail sandbox for its central bank digital currency (CBDC), ena ...More
The Reserve Bank of India has launched a retail sandbox for its central bank digital currency (CBDC), enabling fintech firms to develop and test solutions for the ongoing pilot. This initiative follows the commencement of the e-rupee pilot on December 1, 2022, which has already garnered approximately 7 million users in India. ...Less
- Counting on digital currency
As India wants to leverage its fintech startup space and reap the benefits of a digital currency -even as ...More
As India wants to leverage its fintech startup space and reap the benefits of a digital currency -even as it seems to have decided to recognise CBDC as the only digital currency - it would do well to exercise the same degree of caution while moving forward to roll out a CBDC. ...Less
- FM Nirmala Sitharaman assures investors of addressing pain points to encourage investments
Addressing a roundtable on 'Investing in India's Digital Revolution' in San Francisco, the minister encou ...More
Addressing a roundtable on 'Investing in India's Digital Revolution' in San Francisco, the minister encouraged constant engagement with investors to understand and address their concerns. The Finance Minister said she was open to receive suggestions, understand pain points and offer necessary redressal wherever possible. ...Less
- Delhi Lakshmi Yojana: 4,000 women to receive sanction letters on Wednesday, aid from Sept 1
Around 4,000 women will receive sanction letters for the Lakshmi Yojana scheme. Eligible women will recei ...More
Around 4,000 women will receive sanction letters for the Lakshmi Yojana scheme. Eligible women will receive Rs 2,500 monthly financial assistance starting September 1. Beneficiaries can choose digital currency or deposit options for the funds. The scheme targets women aged 21 to 60, with specific exclusions. Registration has seen over 6.5 lakh completed applications submitted so far. ...Less
- Retail central bank digital currency in circulation falls by 24% in FY26
The value of retail central bank digital currency in circulation saw a significant drop of 24.08 percent ...More
The value of retail central bank digital currency in circulation saw a significant drop of 24.08 percent in 2025-26. Despite this, the Reserve Bank of India continued pilot use cases. Initiatives included direct benefit transfers and public distribution system subsidies. The RBI also explored asset tokenisation and cross-border payment collaborations. ...Less
- FBI to form digital currency unit, Justice Dept taps new crypto czar
Cryptocurrencies rely on blockchain technology, a database shared across a network of computers, in which ...More
Cryptocurrencies rely on blockchain technology, a database shared across a network of computers, in which records are difficult to change once added. ...Less
- Modi-Xi-Putin together again: What will the Bishkek photo-op tell?
India’s next Modi-Xi-Putin photograph at the SCO summit in Bishkek is likely to carry geopolitical weight ...More
India’s next Modi-Xi-Putin photograph at the SCO summit in Bishkek is likely to carry geopolitical weight, but it should not be read as evidence of a new India-China-Russia alliance. ...Less
- Central banks, BIS develop digital currencies platform prototype
Codenamed “Project Dunbar,” the development also proves that financial institutions could use central ban ...More
Codenamed “Project Dunbar,” the development also proves that financial institutions could use central bank digital currencies to transact directly with one another on a shared platform, reducing the need for intermediaries and cutting costs and time. ...Less
- RBI e-rupee: How to use central bank digital currency
The e-rupee—India’s central bank digital currency (CBDC)—is issued in the same denominations as coins and ...More
The e-rupee—India’s central bank digital currency (CBDC)—is issued in the same denominations as coins and bank notes. Users may transact with it through a digital wallet offered by participating banks and stored on mobile phones or similar devices. Unlike savings bank account balance, the e-rupee does not earn any interest income. ...Less
- Wipro, R3 build blockchain-based solution prototype for digital currency in Thailand
The prototype aims to enable digital currency for interbank settlements for a consortium consisting of th ...More
The prototype aims to enable digital currency for interbank settlements for a consortium consisting of the Bank of Thailand and eight commercial banks in Thailand. ...Less
- Digital currency is more than just UPI, IMPS: How it can change your money transactions
Finance Minister Nirmala Sitharaman, in her Budget 2022 speech announced that the Reserve Bank of India ( ...More
Finance Minister Nirmala Sitharaman, in her Budget 2022 speech announced that the Reserve Bank of India (RBI) will be launching Central Bank Digital Currency or CBDC. The RBI is yet to come out with a framework for digital currency. Read on to know how Digital currency is likely to change the way you make transactions and digital payments. ...Less
- Digital currency to be launched as pilot project this year: RBI Deputy Governor
The RBI, he informed, is trying to calibrate policy on digital payments as per the feedback being receive ...More
The RBI, he informed, is trying to calibrate policy on digital payments as per the feedback being received from stakeholders. Highlighting the growing significance of digital payments segment in the country, Sankar noted that it was growing at the rate of 40 to 50 per cent per annum. ...Less
- RBI to issue Central Bank Digital Currency in FY23: FM Sitharaman in Budget
The move on CBDC comes at a time when there has been a huge shift seen towards private virtual currencies ...More
The move on CBDC comes at a time when there has been a huge shift seen towards private virtual currencies called cryptocurrencies. ...Less
- Countries closing in on digital currencies but US lagging: study
The research by the US-based Atlantic Council think tank highlighted that all G20 countries except for Ar ...More
The research by the US-based Atlantic Council think tank highlighted that all G20 countries except for Argentina are now in one of those far-along phases although, notably, the United States is falling increasingly behind. ...Less
- Crypto lender Genesis, parent firm DCG reach in-principle deal with creditors: court filing
Genesis filed for bankruptcy in January owing at least $3.4 billion to creditors and reached an agreement ...More
Genesis filed for bankruptcy in January owing at least $3.4 billion to creditors and reached an agreement in principle on a restructuring plan, supported by Digital Currency Group, and its primary creditors, including Gemini, in February. ...Less
- Govt eyes big push to digital currency programme, says official
According to M Nagaraju, secretary, department of financial services, ministry of finance, government sch ...More
According to M Nagaraju, secretary, department of financial services, ministry of finance, government schemes can give the central bank digital currency a strong boost. CBDC has been integrated into schemes, such as Subhadra Yojana, which supports women in Odisha, and the Delhi government's cash incentive scheme for women. ...Less
- No one-size-fits-all model for central bank digital currencies, IMF head says
Roughly 100 countries are now looking at CBDCs, the IMF estimates, and it published a study on Wednesday ...More
Roughly 100 countries are now looking at CBDCs, the IMF estimates, and it published a study on Wednesday looking at six nations including China, Sweden and the Bahamas where digital money is already up and running or at an advanced stage. ...Less
- Central banks of Honduras, Guatemala eye digital currencies as El Salvador launches bitcoin
The central bank presidents for Honduras and Guatemala both said the banks were studying digital currenci ...More
The central bank presidents for Honduras and Guatemala both said the banks were studying digital currencies with the aim of eventually introducing them into the economy, including via a central bank digital currency. ...Less
- G7 finance leaders lay out guidelines for central bank digital currencies
If issued, a central bank digital currency (CBDC) would complement cash and could act as a liquid, safe s ...More
If issued, a central bank digital currency (CBDC) would complement cash and could act as a liquid, safe settlement asset and an anchor for the payments system ...Less
- Central banks of Honduras, Guatemala eye digital currencies as El Salvador launches bitcoin
The central bank presidents for Honduras and Guatemala both said the banks were studying digital currenci ...More
The central bank presidents for Honduras and Guatemala both said the banks were studying digital currencies with the aim of eventually introducing them into the economy, including via a central bank digital currency ...Less
- India to mull monitoring digital currencies to track crime
A federal government panel is examining options such as banning, regulating or limited intervention for v ...More
A federal government panel is examining options such as banning, regulating or limited intervention for virtual currencies in India. ...Less
- Quarles says proposals for Fed digital currency must clear high bar
The Fed official said the US central bank should study the pros and cons of potentially creating an offic ...More
The Fed official said the US central bank should study the pros and cons of potentially creating an official digital currency, a process the Fed is undertaking now. But he said any proposal to create a US central bank digital currency, or CBDC, must clear a "high bar." ...Less
- SWIFT to trial live digital currency transactions next year
SWIFT plans to trial live transactions of tokenised assets and digital currencies next year. The initiati ...More
SWIFT plans to trial live transactions of tokenised assets and digital currencies next year. The initiative aims to make trading quicker and more efficient. Despite banks exploring tokenisation, market adoption has been slow. Central banks are also testing digital currencies to facilitate these trades. ...Less
- Central Bank digital currencies to replace cash in the coming decade: report
The report, titled ‘Future of Money’, said CBDCs have the capacity to boost financial inclusion by offeri ...More
The report, titled ‘Future of Money’, said CBDCs have the capacity to boost financial inclusion by offering a safe and affordable means of making transactions for people with no access to traditional banking services. ...Less
- Twenty-four central banks will have digital currencies by 2030 - BIS survey
The past 18 months have seen turmoil in the crytpo market, including the failure of TerraUSD, an unbacked ...More
The past 18 months have seen turmoil in the crytpo market, including the failure of TerraUSD, an unbacked stablecoin, in May 2022, the collapse of crytpo exchange FTX in November and the bankruptcy of banks such as Silicon Valley Bank and Signature Bank, which serviced crypto providers. ...Less
- India's digital currency to debut by early 2023
A top government source said the digital currency issued by the RBI would be numbered in units, just like ...More
A top government source said the digital currency issued by the RBI would be numbered in units, just like every fiat currency has an unique number. ...Less
- Digital currency to abet money laundering: Report
The growing use of digital currency will result in rise in cyber laundering as hacking attacks and online ...More
The growing use of digital currency will result in rise in cyber laundering as hacking attacks and online scams take centre stage on Internet. ...Less
- RBI panel to study feasibility of digital currency
Digital currency, backed by an asset such as gold or fiat is known as stable coin –– whose value is not a ...More
Digital currency, backed by an asset such as gold or fiat is known as stable coin –– whose value is not as volatile as cryptocurrencies like bitcoin or ethereum. ...Less
- Current status of digital currency of bitcoins
January 3 marked the seventh anniversary of Bitcoins. ET takes a look at the current status of this digit ...More
January 3 marked the seventh anniversary of Bitcoins. ET takes a look at the current status of this digital currency. ...Less
- Digital Currency: Potential and challenges
There are some risks, primarily cyber risks, associated with CBDC, although its introduction seeks to mak ...More
There are some risks, primarily cyber risks, associated with CBDC, although its introduction seeks to make business transactions easier. ET takes a look at the use cases and challenges CBDC could bring. ...Less
- Proposed digital currency by RBI to speed up transactions, reduce cost of cash: Deloitte
As a financial services innovation, CBDCs are likely to play a pivotal role in shaping the 'future of val ...More
As a financial services innovation, CBDCs are likely to play a pivotal role in shaping the 'future of value transfer', the report said, adding that most central banks worldwide are now in various stages of their evaluation of launching their national digital currencies. ...Less
- After Mastercard, Visa offers central banks a way to test digital currencies
Visa will begin piloting a programme with blockchain software firm ConsenSys after discussions with 30 ce ...More
Visa will begin piloting a programme with blockchain software firm ConsenSys after discussions with 30 central banks about goals related to government-backed digital currencies, according to a Bloomberg report. ...Less
- Cred joins RBI's digital currency project; first fintech to give access to CBDC
Cred becomes the first fintech platform in India to offer access to the e-rupee, a digital currency launc ...More
Cred becomes the first fintech platform in India to offer access to the e-rupee, a digital currency launched by the Reserve Bank of India. The rollout will initially target a select set of users with YES Bank facilitating the issuance of e-rupee tokens. Adoption of the digital currency has faced challenges globally. ...Less
- RBI to adopt graded approach to introduce digital currency
The RBI said that it has been exploring the pros and cons of the introduction of CBDC in India and the ap ...More
The RBI said that it has been exploring the pros and cons of the introduction of CBDC in India and the appropriate design elements of CBDCs that could be implemented with little, or no disruption are under examination. ...Less
- Discussions on with RBI on crypto, digital currency: Sitharaman
"On crypto, I have said that we are in the process of consultation. Whatever decision the government is g ...More
"On crypto, I have said that we are in the process of consultation. Whatever decision the government is going to take, will be after the consultation," she said. ...Less
- FBI to form digital currency unit, Justice Dept taps new crypto czar
The creation of the FBI's "virtual asset exploitation" unit comes after the Justice Department's largest- ...More
The creation of the FBI's "virtual asset exploitation" unit comes after the Justice Department's largest-ever financial seizure earlier this month. ...Less
- No one-size-fits-all for central bank digital currencies: IMF
Roughly 100 countries are now looking at CBDCs, the IMF estimates, and it published a study on Wednesday ...More
Roughly 100 countries are now looking at CBDCs, the IMF estimates, and it published a study on Wednesday looking at six nations including China, Sweden and the Bahamas where digital money is already up and running or at an advanced stage. ...Less
- What's the status of Central Bank Digital Currencies globally
For more such web stories click on the ET icon below ...More
For more such web stories click on the ET icon below ...Less
- Finance Minister Nirmala Sitharaman flags anonymity as 'inherent risk' in use of blockchain
Sitharaman said the distributed ledger technology is a beautiful technology which will help in democratis ...More
Sitharaman said the distributed ledger technology is a beautiful technology which will help in democratisation but flagged anonymity as an "inherent risk" which we need to guard ourselves from. ...Less
- BoE and Treasury think UK is 'likely' to need digital currency -Telegraph
"On the basis of our work to date, the Bank of England and HM Treasury judge that it is likely a digital ...More
"On the basis of our work to date, the Bank of England and HM Treasury judge that it is likely a digital pound will be needed in the future," the Telegraph quoted Bank of England Governor Andrew Bailey and finance minister Jeremy Hunt as saying in the joint report. ...Less
- View: Central banks could issue digital currency, compete directly with PayPal
Technology is enabling monetary authorities to give ordinary people access to a kind of electronic cash t ...More
Technology is enabling monetary authorities to give ordinary people access to a kind of electronic cash they have never had before. ...Less
- Economic Survey 2023 sees RBI’s digital currency as a booster shot for financial services
The Survey said the introduction of Central Bank Digital Currency (CBDC) will provide a boost to digital ...More
The Survey said the introduction of Central Bank Digital Currency (CBDC) will provide a boost to digital financial services by laying the framework for “another generation of financial innovation”. ...Less
- Discussions on with RBI over digital currency: Nirmala Sitharaman
Sitharaman in her Budget speech on February 1 had announced that Digital Rupee or Central Bank Digital Cu ...More
Sitharaman in her Budget speech on February 1 had announced that Digital Rupee or Central Bank Digital Currency (CBDC) would be issued by the RBI in the coming fiscal year. She had also announced the government will levy 30 per cent tax on gains made from any other private digital assets from April 1. ...Less
- Discussions on with RBI on crypto, digital currency: Nirmala Sitharaman
Sitharaman, in her Budget speech on February 1, had announced that Digital Rupee or Central Bank Digital ...More
Sitharaman, in her Budget speech on February 1, had announced that Digital Rupee or Central Bank Digital Currency (CBDC) would be issued by the RBI in the coming fiscal year. She had also announced the government will levy 30 per cent tax on gains made from any other private digital assets from April 1. ...Less
- Australia's central bank launches digital currency project
The digital currency project will seek to identify innovative use cases and business models that could be ...More
The digital currency project will seek to identify innovative use cases and business models that could be supported by the issuance of a CBDC. ...Less
- RBI-backed digital currency coming soon in India
On the very first day of the winter session of the Parliament, the government received questions regardin ...More
On the very first day of the winter session of the Parliament, the government received questions regarding the looming ban of cryptocurrency and the RBI’s plans to introduce an official digital currency. ...Less
- Nigeria to launch digital currency on Monday to enhance payments
The eNaira, which took several years to develop, will “make financial transactions easier and seamless fo ...More
The eNaira, which took several years to develop, will “make financial transactions easier and seamless for every strata of the society,” the Central Bank of Nigeria said in emailed statement on Saturday. The digital currency will complement the physical naira. ...Less
- Fidelity to allow clients to see digital currencies on website
The move will make the Boston-based asset manager one of a handful of large financial services firms to h ...More
The move will make the Boston-based asset manager one of a handful of large financial services firms to have integrated digital currencies into its website. ...Less
- Time for central bank digital currencies to prove their worth
A few countries have introduced central bank digital currencies (CBDCs), China is trialling a prototype y ...More
A few countries have introduced central bank digital currencies (CBDCs), China is trialling a prototype yuan with 200 million users, India is gearing up for a pilot and some 130 countries representing 98% of the global economy are exploring digital cash. ...Less
- Digital currency wallets to be used for study loan subsidies
The government is collaborating with banks to implement a system for routing and settling interest subsid ...More
The government is collaborating with banks to implement a system for routing and settling interest subsidies on education loans through digital currency wallets. This initiative aims to integrate with the Unified Portal for Education Loan, enhance the efficiency of subsidy claims, and reduce fraud by using Central Bank Digital Currency (CBDC). ...Less
- India's digital currency push targets its leaky welfare system
India is piloting its digital rupee, the e-rupee, for welfare payments. This initiative aims to improve e ...More
India is piloting its digital rupee, the e-rupee, for welfare payments. This initiative aims to improve efficiency and reduce corruption in government subsidies. Farmers like Samadhan Sonawane are receiving funds directly for farm equipment. Similar trials are underway for food distribution. The e-rupee offers programmable features to ensure funds are used as intended. ...Less
- CBDC to be implemented in phased manner for wholesale, retail segments: RBI official
New Delhi, Jul 20 (PTI) The Reserve Bank of India is in the process of implementing the Central Bank Digi ...More
New Delhi, Jul 20 (PTI) The Reserve Bank of India is in the process of implementing the Central Bank Digital Currency (CBDC) in a phased manner for the wholesale and retail segments, an official said on Wednesday. ...Less
- Blockchain not best for digital currency, experts say
On Tuesday, Finance Minister Nirmala Sitharaman, while presenting the Union Budget, mooted launch of a di ...More
On Tuesday, Finance Minister Nirmala Sitharaman, while presenting the Union Budget, mooted launch of a digital Rupee by RBI during 2022-23, “using blockchain and other technologies.” ...Less
- Don't scare digital currencies away
Nirmala Sitharaman, in her statement while moving the amendments, has clarified the tax on private digita ...More
Nirmala Sitharaman, in her statement while moving the amendments, has clarified the tax on private digital assets does not indicate GoI's stance on their legitimacy. ...Less
- A cross-border digital currency can speed up transfer, shows pilot
The multiple central bank digital currency bridge project (mBridge), joined by the monetary authorities i ...More
The multiple central bank digital currency bridge project (mBridge), joined by the monetary authorities in Hong Kong, Thailand, China and the United Arab Emirates, has achieved a prototype that reduces the time of international transfers to seconds from days when using the traditional correspondent banking, according to a BIS report Tuesday. ...Less
- India needs an RBI digital currency
Some degree of anonymity can, perhaps, be built into the blockchain-based model that identifies accounts. ...More
Some degree of anonymity can, perhaps, be built into the blockchain-based model that identifies accounts. A CBDC could prevent private payment system providers from monopolising transaction data, via the self-reinforcing loop of data, network externalities and activities, attracting ever more users. ...Less
- India's digital currency push targets its leaky welfare system
While India's early efforts are modest compared with those of China, where more than 200 million people u ...More
While India's early efforts are modest compared with those of China, where more than 200 million people use the e-yuan, the world's most populous nation could in theory become its biggest CBDC issuer if the system gains traction. ...Less