DIGITAL RUPEE ,Central Bank Digital Currency, CBDC, India, RBI, cryptocurrency, Digital Currency, Blockchain, Virtual Currency

New Delhi, February 02, 2022: Digital Rupee is soon going to be a reality!

Yesterday, Union Minister for Finance and Corporate Affairs, Nirmala Sitharaman proposed to introduce Digital Rupee, using blockchain and other technologies, to be issued by the Reserve Bank of India starting 2022-23.

While presenting the Union Budget for 2022-23, in Parliament today, she elaborated that introduction of Central Bank Digital Currency (CBDC) would give a big boost to digital economy.

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“Digital currency will also lead to a more efficient and cheaper currency management system”, she said.

She further proposed various other initiatives to boost investment and credit availability in the country.

Venture Capital and Private Equity Investment

The Finance Minister proposed setting up an expert committee to examine and suggest appropriate measures to scale up Venture Capital and Private Equity investment. She noted that the Venture Capital and Private Equity invested more than Rs. 5.5 lakh crore last year facilitating one of the largest start-up and growth ecosystems. “Scaling up this investment requires a holistic examination of regulatory and other frictions”, she said.

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