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Detailed stories on technology startups, business and economic current affairs.
Detailed stories on technology startups, business and economic current affairs.
The central bank would do well to bring on board more financial institutions and regulators to effectively test the new digital currency.
Editor's note: After years of debating the utility of digital currencies and cryptocurrency regulation, India is finally on a path to roll out the digital rupee. This marks a significant transformation for the Reserve Bank of India in the way business is done, while a digital currency will open up new opportunities for banks in terms of product innovation, service delivery and risk management. Last week, the RBI launched the first pilot project for the central bank digital currency, or CBDC, in the wholesale segment—also known as e₹-W. The pilot, which targets secondary market transactions in government securities, involves India’s nine top banks. As part of the project, the Clearing Corporation of India Ltd, or CCIL, launched “negotiated dealing system-order matching CBDC”. The platform facilitates instant settlement of trades in government bonds, as opposed to trade settlements on a T+1 basis, which happen a day after the transaction is carried out. “Use of e₹-W is expected to make the inter-bank market more efficient. Settlement in central bank money would reduce transaction costs by pre-empting the need for settlement guarantee infrastructure or for …
The central bank would do well to bring on board more financial institutions and regulators to effectively test the new digital currency.
Editor's note: After years of debating the utility of digital currencies and cryptocurrency regulation, India is finally on a path to roll out the digital rupee. This marks a significant transformation for the Reserve Bank of India in the way business is done, while a digital currency will open up new opportunities for banks in terms of product innovation, service delivery and risk management. Last week, the RBI launched the first pilot project for the central bank digital currency, or CBDC, in the wholesale segment—also known as e₹-W. The pilot, which targets secondary market transactions in government securities, involves India’s nine top banks. As part of the project, the Clearing Corporation of India Ltd, or CCIL, launched “negotiated dealing system-order matching CBDC”. The platform facilitates instant settlement of trades in government bonds, as opposed to trade settlements on a T+1 basis, which happen a day after the transaction is carried out. “Use of e₹-W is expected to make the inter-bank market more efficient. Settlement in central bank money would reduce transaction costs by pre-empting the need for settlement guarantee infrastructure or for …
The Rs 250 SIP was launched last year by the former SEBI chairperson with one clear goal: financial inclusion. More than a year later, the much-hyped scheme doesn’t seem to have caught on with MF investors.
Europe’s largest fintech firm has its sights set on the Emirates. What can we expect?
The central bank’s shift to a 100% collateral requirement threatens to erode leverage, reduce volumes and force a consolidation across prop desks.
The Rs 250 SIP was launched last year by the former SEBI chairperson with one clear goal: financial inclusion. More than a year later, the much-hyped scheme doesn’t seem to have caught on with MF investors.
Europe’s largest fintech firm has its sights set on the Emirates. What can we expect?
The central bank’s shift to a 100% collateral requirement threatens to erode leverage, reduce volumes and force a consolidation across prop desks.
