In another reply, he mentioned that RBI is currently working on a strategy to launch a CBDC. This will reduce dependence on cash and reduce transaction costs. Chaudhary said that the printing of notes is decreasing. Notes worth Rs 4,378 crore were printed in 2019-20 and this figure came down to Rs 4,012 crore in 2020-21. Responding to another question, he said that the financial condition of the country includes many aspects.
“A strong stock market as well as good market infrastructure is an indicator of a country’s financial position,” said Choudhary. Stock markets indicate economic growth in the medium to long term as stock prices reflect market expectations and companies’ future growth. Get an estimate of revenue and profit. However, at the same time, he said that the movement of the stock market in the short-term depends to a large extent on economic and political events.
Regarding regulating the crypto segment, Finance Minister Nirmala Sitharaman recently said that she does not want to get into the debate whether the government should regulate or ban it. This will be done after discussion. Sitharaman had said, “It is being discussed. Those interested in the subject are welcome to participate. The ministry will go ahead with it once the deliberation process is over.” On the possibility of crypto in the country, Sitharaman said that many people are seeing a lot of potential in it and due to this, it can also get revenue. Some organizations have demanded a ban on cryptocurrency in the country. These include Swadeshi Jagran Manch. These organizations say that cryptocurrencies have the potential to encourage illegal activities such as money laundering.
(This news has not been edited by NDTV team. It has been published directly from Syndicate feed.)<!–
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