RBI gives more power to Digital Rupee in India with Programmability and Offline Transactions function

The Reserve Bank of India (RBI) is going to add new features to the digital rupee (CBDC), after which the digital rupee will become smarter. Also, it can be used in more places. The two new features that are going to be added to the digital rupee mainly include its programming and offline use. That is, not only ordinary transactions can be done with the digital rupee, but it can also be used in other ways of transactions. It can be used in a special way, which can also include government schemes. Or it can also help in managing the expenses of business etc.

digital rupee The second big feature that is being added is the facility to use it offline. This means that digital rupees can be used even where the internet is not very fast or where there is no internet facility. This will bring a revolution in those areas where mobile internet has not yet reached. RBI the recent Press Release This has been mentioned in the RBI. Apart from this, work is also being done to make digital transactions more secure than before. RBI is also working in this direction that how the country can get its fair share from the sale of digital goods like apps and games etc.

Soon, changes can be seen in the rules related to digital rupee from RBI so that transactions of digital goods can be brought under the tax net. This will give the country more strength in the competition present in the global market. Digital currency is the currency of the future and ensuring its widespread and correct use is very important for the future of the country. CBDC is a blockchain-based payment solution, which is controlled by the central bank. It acts like a cryptocurrency but unlike cryptocurrencies, CBDC does not have volatility and other risks.

The digital rupee is expected to make the interbank market more efficient. CBDC projects are being trialled in countries like China, Ghana and France. Apart from this, Nigeria has launched its own digital currency.