India’s digital currency likely to be launched by early 2023

Share Us

935
India’s digital currency likely to be launched by early 2023
07 Feb 2022
4 min read

News Synopsis

The government of India recently announced that they are going to launch its own digital currency in the Union Budget. A top government source has said that the digital currency of India is going to likely hit the market by early 2023. In her budget speech on February 1, 2022, Finance Minister Nirmala Sitharaman said that we are soon going to launch India’s own digital currency ‘digital rupee’ which will be backed by the Central Bank.The digital currency would be almost the same as its other private counterparts and will be based on the latest blockchain technology. A striking feature of the digital rupee would be that it will be numbered and capable of tracking all the transactions unlike other digital wallets offered by private players.

TWN In-Focus