Скачать с ютуб Business Matters | Is there a case for digital currency when we have UPI? в хорошем качестве

Business Matters | Is there a case for digital currency when we have UPI?

Last week, Reserve Bank Deputy Governor T. Rabi Sankar in a speech touched upon the international context of the CBDC, like he did in July 2021 too. The CBDC, the Indian government has said, would be introduced this year. The Central Bank Digital Currency (CBDC) is currency in digital form. It has sovereign approval and hence is called fiat currency, just like currency notes that come with the RBI Governor’s certificate of authenticity. CBDCs have some clear advantages over digital systems – payments using CBDCs are final and thus reduce settlement risk in the financial system. If you buy fruits from a roadside vendor and pay using an app such as BHIM or Google Pay or PhonePe that use the government-enabled Unified Payment Interface (UPI) system, you send money from your bank account to the fruit vendor’s account. So intermediaries, in the form of banks, are required. But what if, like you used to earlier, you withdraw cash from your account and use it to pay the vendor? CBDC transactions will be similar to physical cash transactions. Given the success of the UPI, is there a case for CBDC in India? How can CBDCs help with international transactions? Script and presentation: K. Bharat Kumar Production: Shibu Narayan Videography: Johan Sathyadas J Thank you for watching our video! You can subscribe to our channel here: https://bit.ly/3c8Adi6 Visit https://www.thehindu.com/ for the latest updates, analysis, opinions, and more. You can also download our apps: Android: https://bit.ly/3nboBEi iOs: https://apple.co/3EDCwt4 The Hindu is committed to keeping you up-to-date with information on the developments in India and the world. We promise to deliver quality journalism that stays away from vested interest and political propaganda. You can support us by subscribing to our digital offerings here: https://bit.ly/3emywiz Follow us: Twitter:   / the_hindu   Instagram:   / the_hindu