With Finance Minister Nirmala Sitharaman publicly confirming the initiative during her Budget 2022 speech, India's own digital currency will soon be a...With Finance Minister Nirmala Sitharaman publicly confirming the initiative during her Budget 2022 speech, India's own digital currency will soon be a reality. Sitharaman said in her fourth Budget that the Reserve Bank of India (RBI) would introduce digital money in 2022-23. She also stated that it would provide a significant boost to the economy.According to Prime Minister Narendra Modi, India's new blockchain-based digital currency would simply be a virtual version of the regular Indian rupee (INR), the country's official currency, which now exists in a physical form. According to Prime Minister Narendra Modi, the Reserve Bank of India (RBI), which controls the issuance of this currency, would also govern digital money.What are the essentials about digital currency as per the PM?The Prime Minister said that the "people-friendly" annual financial statement has made adequate provisions for India's upcoming digital currency, keeping in mind the rapidly changing financial scene, increasingly dealing with cryptocurrencies and non-fungible tokens (NFTs) and other forms of digital assets.Prime Minister Modi explained the nature of this virtual money, saying that it may be traded for its physical equivalent because the two are identical in value but differ only in appearance. He believes that this currency would help to enhance the digital economy and the fintech industry.CBDC, he added, is not analogous to the private virtual currencies that have exploded in popularity during the previous decade. What is the view of the Reserve Bank of India on digital currency?The Reserve Bank of India has stated several times that cryptocurrencies such as BitCoin, Ethereum, and Dogecoin, among others, constitute a threat to financial stability. The central bank has also questioned the worth of cryptocurrencies, warning investors not to be "lured" by promises of high returns on these digital assets.According to Shri T Rabi Sankar (Deputy Governor, Reserve Bank of India), private virtual currencies conflict with the historical idea of money.Please Note: The information was last updated on 22/02/2022

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    Charlie Munger, the legendary investor and longtime Berkshire Hathaway vice chairman, built his success on caution, discipline, and a no-nonsense approach to life and business. Rejecting extravagance, he lived simply, avoided risky trends like cryptocurrency, and urged businesses to focus on what works. His influence shaped Berkshire Hathaway and Costco, where he championed long-term thinking. Munger’s legacy is a masterclass in avoiding mistakes, resisting excess, and staying rational—principles that continue to guide investors and businesses long after his passing. ...Less

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    Customers will no longer have access to the Amazon Appstore on their Android devices from August 20, 2025, according to a notification on the company’s support page. It also announced the discontinuation of the Amazon Coins programme on the same date, with Coins no longer available for purchase from 20th February 2025. ...Less

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    Pi Network Coin, the newest cryptocurrency mined on smartphones, experienced a sharp 62.63% drop following its listing. However, with major exchanges now supporting it and over 110 million users on board, the coin holds potential. Experts predict a bright future for Pi, with expectations it could surpass $500 by 2030. ...Less

  • Crypto exchange platform BestChange in the dark over Russia block

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    Circulating and advertising digital currencies is banned in Russia, although using cryptocurrency for international payments is now legal, as is cryptocurrency mining. BestChange said new regulations around crypto could be behind the ban, or an issue with an entity using its service. ...Less

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  • Mt. Gox creditors seek trillions where there are only millions

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  • Central banks, BIS develop digital currencies platform prototype

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  • Google to ban cryptocurrency, initial coin offering ads

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  • Wipro, R3 build blockchain-based solution prototype for digital currency in Thailand

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  • 'Crypto President' of USA! Take a look at Donald Trump's ties with Cryptocurrency

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  • Digital currency is more than just UPI, IMPS: How it can change your money transactions

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  • Digital currency to be launched as pilot project this year: RBI Deputy Governor

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  • RBI to issue Central Bank Digital Currency in FY23: FM Sitharaman in Budget

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  • Countries closing in on digital currencies but US lagging: study

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  • India’s Finance Minister Nirmala Sitharaman says she expects the central bank to roll out the country’s digital currency this year

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  • FM Nirmala Sitharaman assures investors of addressing pain points to encourage investments

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  • Crypto lender Genesis, parent firm DCG reach in-principle deal with creditors: court filing

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  • Central banks of Honduras, Guatemala eye digital currencies as El Salvador launches bitcoin

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