Explained : Central Bank Digital Currency (CBDC) | IN NEWS I Drishti IAS English

Drishti IAS brings to you a new programme - In News. This programme will be covering the important news of the day from UPSC exam point of view. In particular, the aim will be to cover the basic as well as more conceptual and analytical aspects of the news being covered in the video.
In today's video, we will analyse the concept of Digital currency and about RBI' s digital currency.
We will also discuss the challenges and the way forward related to it.
The News
What is Digital Currency
About CBDC
The Need
The scenario of other countries
Challenges
Way forward
Question
• India and Cryptocurren...
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#CentralBankDigitalCurrency #DigitalRupee #DrishtiIasInNews

[@SandeepYadav-mx5su]

Option D. 1 & 3 statements are correct.
I have a question about inflation.
Will the use of digital currency have any effect on inflation?

[@DrishtiIASEnglish]

Dear Sandeep,
CBDC is a digital currency which has the backing of RBI.
So general rules of inflation will have an impact upon the CBDC.
We highly appreciate your interest in the segment.
Regards,
Team Drishti IAS.

[@nirmalvikasmishra312]

Thanks for explaining it in a right way 👍

[@pallavijangid8118]

THANKS TEAM DRISHTI IAS. ..very nice explanation and content. ...🔥🔥🔥📖👏

[@anshukumawat....4365]

The answer is option D ..and thanks mam for this information 😊

[@Narendra.singh_25]

Option (d) will be the correct answer.
Thank you for such a precious information.

[@adityabirla1224]

Thank you ma'am 😊
The Answer is Option D. 1 and 3

[@vishwanathansubramanian267]

Option d is the correct answer Mam... Thank you.

[@deepeshwarsingh5417]

Good explanation
Option D

[@imAakashdeep]

Option D will the correct answer for today's question ma'am

[@shainakhan5932]

(OPTION D) is correct 💯
Thank you mam ❤️

[@UA-UnknownAnonymous]

Very nice explanation of CBDC Vs Cryptocurrency

[@DrishtiIASEnglish]

We are glad that you liked it!

[@sabaparween2065]

Option (d) is the answer of today's question
Thank you ma'am 😊🙏

[@suvarnamurali8891]

Thanku mam
Option D is correct.

[@shubhmalik9918]

Thnx mam, option D is correct answer

[@alokdeep1067]

Thank you mam
Correct Option is D

[@anishkakaushal873]

Option D IS correct
But I have a question about this, is this safe for in our military service and our ISRO?
😍

[@govindbhargava6434]

Option D is correct 👌

[@coolvenkx]

While all thats been said is accepted but what's the incremental advantage on already established UPIs. UPIs are also governed by the Central bank and also subject to Data Privacy and protection - so no added compliances...

[@kumaramartya7387]

Thank you Ma'am 💖💖

[@alokbasu3984]

Very nicely explained.

[@DrishtiIASEnglish]

Thank you! 🙂

[@pratikshatiwari562]

Can CBDC help in improving current inflation situation ?? If by any chance it was in use since last 2-3 yrs??

[@DrishtiIASEnglish]

Dear Pratiksha Tiwari,
CBDC is a digital currency which has the backing of RBI.
So general rules of inflation will have an impact upon the CBDC.
We highly appreciate your interest in the segment.
Regards,
Team Drishti IAS.

[@TopBasicKnowledge]

Thanks team drishti

[@DrishtiIASEnglish]

Thanks a lot!

[@simimishra5206]

Option D: 1 and 3

[@phalangmiki]

00:10 RBI is planning to introduce digital currency (CBDC) in India
01:52 Digital currency should be universally accessible and acceptable.
03:28 Central Bank Digital Currency (CBDC) is a legal tender backed by RBI and is the same as fiat currency
05:05 Digital currency reduces dependency on cash and saves infrastructure costs.
06:39 CBDCs are being explored and tested globally, with several countries already launching their own digital currencies.
08:16 Challenges of CBDC implementation
09:48 Privacy is a concern for central bank digital currency (CBDC) implementation.
11:20 Jaisalmer receives the lowest amount of rainfall.

[@magnusnotcarlsen3241]

What is the difference from Paytm Wallet?

[@princitiwari7738]

D is the correct answer

[@sunnyedward6600]

D is correct option.

[@sudhirgupta6108]

1 n 3 correct

[@sudarsanasaikia8859]

Option -D

[@priyanshuwasnik5690]

Option D is correct

[@supriyakumari6895]

Beautifully explained.
Thank you ma'am

[@DrishtiIASEnglish]

We are fortunate to have a viewer like you Supriya amongst us We hope that you keep coming back to our channel for informative posts and programmes!

[@raghavanil9145]

Option #D1&3

[@manojkumar4687]

Difference between polygon and block chain

[@gayatreebehera7074]

Option D

[@suranjankakra8846]

Option D ; 1 and 3 only

[@manthanmakwana6092]

We already have UPI running in country with good amount of transactions happening everyday then what is the need of CBDC?

[@DrishtiIASEnglish]

Dear Manthan,
Thankyou for posing such an interesting question.
Well to put it bluntly, there is a settlement risk in UPI, since there is an intermediary involved. But in e-Re, there is no settlement risk, since it is issued by the RBI and could also be much faster.
Further, since UPI is a bank-to-bank payment mode, there is a transaction or audit trail it leaves, which e-Re won’t because it is wallet-to-wallet transfer.
RBI is likely to allow anonymity in e-Re transactions, at least in the small-ticket ones. Those who don’t want an audit trail will prefer e-Re.
To know more information about it , you can refer to the link given below
www.thehindubusinessline.com/blexplainer/bl-explainer-rbis-e-rupee-versus-upi/article66213758.ece
Regards,
Team Drishti IAS

[@rafirich]

Ans: D

[@mr.anonymous474]

Option d

[@arcane_1397]

Ans is option D

[@harishsharma7743]

D option

[@pallavijangid8118]

Option D...

[@ashadahmad1380]

D. 1 and 3

[@Vishal_Sinha31]

👌🏻

[@santhoshswapnaaligi1313]

Option d mam

[@sandeepshukla6657]

Option D is right

[@Anujbharti.007]

1and 3

[@venkateshyarrappagari6579]

Ans:d

[@DaddysHere007]

(d) 1 and 3 only

[@aspirantkhushwant]

Correct answer is D 👍🥰

[@Christaller0]

Option (d)

[@bikijoshi4994]

Why there is no interest in cbdc

[@anunaykumar870]

D,1 and 3 only

[@hustler3577]

1&3

[@omprakashkumar1441]

D

[@bhaskarjeetborchetia1477]

Meanwhile those who are trading in cryptocurrencies from the past 3 years and listning to this abcd lessons

[@jenish1711]

D 1 & 3 only

[@dhilipan9422]

5:04

[@DineshKapse-wj1lj]

❤🎉

[@mihirmargaje5024]

Ma'am ppt de do ye please 😀

[@DrishtiIASEnglish]

Hi Mihir,
As of now we don't provide the ppt/pdf's of any of our videos but we will let you know if anything comes up in the future.
Stay Connected..

[@shashankshekhar901]

d

[@sankarnaraj4446]

a

[@praveenmokashi4135]

Dd

[@praptibelekar8892]

Option D is correct

[@chithirakp221]

Option D

[@ambitiousminnisharma]

Option d

[@rupalverma3174]

Option D) 1 and 3 only

[@sandy_1619]

D

[@C_dq56]

Option D

[@kanishkkumar9110]

Option D

[@DeepakSingh-hb6so]

Option D

[@arpitaroy6997]

Option D

[@balajir4460]

Option D

[@Amar-K18]

Option D

[@SRIKANTH-cs9cx]

Option D

[@kumarianjali6913]

Option D

[@anuragverma889]

Option d

[@FaizanKhan-mc3ri]

Option d

[@priyansharma]

Option d

[@Shubh_1729]

Option D

[@abrarali5331]

Option d

[@RahulYadav-zm6ni]

D

[@jasvindersingh6915]

D

[@lipikantsahoo8134]

D

[@ashishkumar-ak3697]

D

[@vikashbhagatrollno.0839]

D

[@manishbidhan6387]

D

[@ruler8081]

D

[@akshaychaudhary2249]

D

[@chirasmitapatra6120]

D

[@borisdeogam]

D