Prime Minister Narendra Modi said the digital rupee, propose in the union budget, could be exchange for cash and will open new opportunities in the fintech sector. Addressing the ‘Atmanirbha Arthavyavastha‘ (self-reliant economy) symposium organise by the BJP.
Prime Minister said the central bank digital currency or the digital rupee will make online payments more secure and risk free and boost digital economy in the years to come.
Prime Minister Said :
“The digital rupee will be the digital form of our physical rupee and will be regulated by the RBI. This will be such a system that will enable exchange of physical currency with digital currency,”
Prime Minister Modi said at the virtual symposium that was attend by chief ministers of BJP-rule states and party workers across the country.
Prime Minister Said :
“Central Bank Digital Currency (CBDC) will strengthen the digital economy… If anyone makes a payment in digital currency, you will be able to change it to cash,”.
Prime Minister Modi said the launch of CBDC will make digital payments and online transfer of funds more secure and risk free.
Prime Minister Said :
“This will also lead to ease in development of global digital payment systems,”.
Prime Minister said the digital rupee will revolutionise the fintech sector by creating new opportunities and lessen the burden in handling, printing, logistics management of cash.
Finance Minister Nirmala Sitharaman had announce that India will launch a ‘digital rupee’ in 2022-23 using blockchain and other technologies.
