In the virtual seminar, Prime Minister Modi said that the digital rupee will be the digital form of our physical rupee and it will be regulated by the RBI. It will be a system that will enable exchange of physical currency with digital currency.
The Prime Minister said that the Central Bank Digital Currency (CBDC) will strengthen the digital economy. If someone pays in digital currency, then you will be able to convert it into cash.
The Prime Minister said that digital payments and online transfer of funds will become more secure and risk-free after the launch of CBDC. He said that this will also facilitate the development of global digital payment system.
He said that Digital Rupee will revolutionize the FinTech sector by creating new opportunities and reducing the burden of logistics management, printing and handling of cash. In the Union Budget presented on Tuesday, Finance Minister Nirmala Sitharaman had announced that India will launch a ‘Digital Rupee’ using blockchain and other technologies in 2022-23.
Apart from this, the government has also announced a battery swapping policy. This exercise will be done to promote the use of electric vehicles. In her budget speech in the Lok Sabha, Nirmala Sitharaman said that in view of the space constraints in setting up charging stations for electric vehicles in urban areas, a battery swapping policy will be introduced and interoperability standards will be formulated.
He said that the private sector would be encouraged to establish a sustainable business model for battery or energy service. This will improve the EV (Electric Vehicle) ecosystem. He said that the use of public transport would be encouraged in urban areas. All this will be possible through clean technology, zero fossil fuel policy and electric vehicles.
<!–
–>
,