Digital currency RBI: There are many changes on the first day of every month, but on the first day of November, there is going to be a big change in the economy of India. RBI is going to launch its own digital rupee. Will the notes be printed after this? Will old notes work or not? Let’s know.
India will also be among the few countries to have its own digital currency. Yes, on November 1, RBI is going to issue its own digital rupee. However, let us tell you that at present this is being started only as a pilot project. The talk of bringing digital currency had already happened at the time of the budget announcement. From that time it was awaited when the digital currency would come. Now people’s wait is over. Can common people buy this virtual currency in the pilot project? How will this currency be? What will be its cost? Is there any guarantee of this currency or not. Know in this article.
When will Digital Rupee come?
The Reserve Bank is about to launch this currency with a total of 9 banks. Digital Rupee will be used for large payments. According to the bank, it will be used for settlement on the purchase and sale of government bonds. It can also be used for retail transactions throughout the month.
Can you use Digital Rupee?
RBI had told on 7 October 2022 that it is soon going to start a pilot project for Digital Rupee. In this pilot project, the use of digital money has been kept to a limited number of people. Based on the results of this pilot project, it will be widely brought in the market. Let us tell you that with the introduction of digital rupees, the transaction cost of banks will be reduced.
Will the notes be printed after this?
In the age of social media, the market of rumors remains hot, but you do not have to take any load at all. RBI will continue to print notes even after bringing digital currency and the system of cash in the market is not going to end nor has the government said anything like this yet.
how to buy virtual currency
Just like there are 10, 20, 50, 100, 500, 2000 notes. Digital Rupee will also remain in the same value (denomination). How many digital rupees can be kept? Its limit has not been decided yet. Digital Rupee will not be in your pocket. It will be used in the virtual world. Let us tell you that there will be RBI guarantee behind this currency, that is, it will not be like Bitcoin. Buying it will be completely safe.
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