The Reserve Bank is making rapid strides towards digital currency

The Reserve Bank is making rapid strides towards digital currency

Posted: 03/12/2021 04:47 AM

MUMBAI: The Reserve Bank of India (RBI) may announce the digital currency model proposed this month, said Anuj Ranjan, general manager, RBI Fintech division. After that it can be brought under the pilot project .. The legal changes required for the creation of digital currency are already in the early stages, he said. There will be a lot of positive results in this direction in the next 3-6 months. The following are the layout and design options required for the Central Bank Digital Currency (CBDC). The process is already underway, “the official said. Finance Minister Pankaj Chaudhary recently said that the Reserve Bank has asked for changes in the Reserve Bank Act, 1934 to bring it into circulation.

The sale of bonds is also available on the Reserve Bank’s Retail Direct Portal
The Reserve Bank of India (RBI) has said that one can also apply for the purchase of BDC securities through the newly launched RBI Retail Direct Portal. The application process for the eighth installment of PASD securities for this financial year ends today. So far only banks, stock exchanges, selected post offices and authorized stock exchanges have been selling pound bonds. RBI Retail Direct Portal (: // jaj౯౯ म ౯ ” ii – ”

Reliance Capital launches bankruptcy proceedings
The Reserve Bank of India (RBI) has taken steps to initiate bankruptcy proceedings against Reliance Capital under various sections of the Bankruptcy Memorandum. The National Corporate Law Tribunal (NCLT) has filed an application in the Mumbai Bench. Reliance Capital was thus temporarily suspended. Accordingly, no credit institution shall sell or transfer the assets of Reliance Capital to anyone. The Reserve Bank of India (RBI) on November 29 dissolved Reliance Capital’s board following its failure to repay the loan. Y. Nageshwara Rao (former Managing Director, Bank of Maharashtra) has been appointed as the Executive.

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