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Digital Rupee: Governor’s big announcement- Digital currency will start for retail customers this month

Highlights

On the first day, banks have paid Rs 275 crore in digital rupees.
Work is underway to maintain the transparency of the digital rupee.
We are in no hurry to launch Digital Rupee.

New Delhi. Reserve Bank Governor Shaktikanta Das has made a big announcement on Wednesday. He said that the facility of e-rupee transactions for common customers will be started from this month. At present, the trial of digital currency is going on under the pilot project and 9 banks are involved in it. The governor has said that now it has been issued for banks, but soon retail customers will also be able to use digital rupees.

On the first day of the trial, banks have paid Rs 275 crore in digital rupees in government securities transactions. Governor Das said in an event of FICCI and Indian Banks Association that soon we will make the facility of e-rupee available to retail customers also. The Governor said, work is going on to maintain the transparency of Digital Rupee and soon its use will be started across the country.

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Don’t rush the digital rupee
Das said, we are not in any hurry to launch Digital Rupee. Want to check all the aspects before making it available to the general customers. After the arrival of this currency, there will be a big change in the business sector. This is the reason that at present there is no deadline to launch Digital Rupee, but we will try to make it available for use to common customers in November itself. He said that the global economy is going through a big change at this time and all the big countries are changing their monetary policies.

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India’s economy strong even in the challenge
Governor Das said that at this time the whole world is facing challenges and in this period also India’s economy is looking strong. Despite the pressure of inflation, our growth rate is the fastest in the world and will be able to maintain it going forward. With the bumper sales in the festive season and increasing consumer demand, the picture of the economy moving on the right track is visible.

Keeping an eye on inflation
The governor expressed concern about inflation and said that after all efforts, it has not been successful in bringing it below 6 percent. We are closely monitoring inflation and more steps will be taken to control it. He said that everyone has a right to know about our strategy regarding inflation and monetary policies. That is why we have called a meeting of the MPC on November 3. We will present our side in front of the government regarding the reasons for inflation not coming under control and its information will be made public. If we take more stringent steps to control inflation, then the country may have to bear the brunt of it.

Tags: business news in hindi, inflation, RBI, Reserve Bank of India, Rupee weakness, Shaktikanta Das

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