SBI Chief says digital currency to transform cross-border transactions
By MYBRANDBOOK
C S Setty, the Managing Director of State Bank of India (SBI) has said that the central bank digital currency (CBDC), which are digital assets issued by central banks, is going to be a reality soon. He also added that it will play a key role in cross border transactions. At present, the Reserve Bank of India (RBI) is working on two sets of CBDCs, one is wholesale account-based and the other is retail-based.
"While crypto currency would be an asset class... I think CBDC is eventually going to transform how cross-border transactions take place...my reading is that it is only a matter of time , there is no way countries across the world can stay away from CBDC," Setty said while addressing participants at the ISB Leadership Summit 2021 on the 'Future of banking'.
He mentioned that the introduction of CBDC is expected to throw up many questions like what happens to the intermediation role of the bank and also how it will impact the monetary as well as fiscal policies of the country.
The government of India intends to construct a single portal f
A single portal will be launched by the Indian government to list all of it...
OpenAI offers GPT-4o, a faster model available to all users at
GPT-4o, a faster and more sophisticated AI model, is made available to all...
Paytm brings UPI Lite Wallet for low-value transactions
Paytm’s parent company One97 Communications (OCL) is emphasizing upon UP...
BHIM to join e-commerce, competing with PhonePe and Google Pay
The government-supported payment software BHIM is getting ready to join t...
FIREBOLTT
VERSA NETWORKS INDIA PVT. LTD.
TP-LINK INDIA PVT LTD.
JUVAS SOLUTIONS PVT. LTD.
Technology Icons Of India 2023: Byju Raveendran
Byju Raveendran is the founder of edutech start-up Byju’s. Raveendra...
Technology Icons Of India 2023: Lt Gen (Dr.) Rajesh Pant (Retd.)
LT Gen(Dr.) Rajesh Panth (Retd.), National cyber security coordination...
Technology Icons Of India 2023: Kumar Mangalam Birla
Aditya Birla Group chairman Kumar Mangalam Birla’s return to Vodafon...
RailTel connecting every corner of India
RailTel is an ICT provider and one of the largest neutral telecom infr...
ECIL continues to keep India ahead in the growth of Information Technology and Electronics
ECIL played a very significant role in the training and growth of high...
GeM maintains transparency in online procurement of goods & services
Created in a record time of five months, Government eMarketplace is a ...
SUPERTRON ELECTRONICS PVT. LTD.
Supertron deals in servers, laptops, components, accessories and is a...
ADITYA INFOTECH LTD.
Aditya Infotech Ltd. (AIL) – the technology arm of Aditya Group, is ...
RAH INFOTECH
RAH Infotech is India’s fastest growing technology value added dist...