Recently, Zimbabwe launched a gold-backed digital currency, marking another attempt to stabilize and strengthen its currency. This innovative move aims to address the ongoing challenges faced by the country’s financial system. The Concept of a Gold-Backed Digital Currency A gold-backed ..
Month: Current Affairs - May, 2023
Category: Economy & Banking Current Affairs - 2024
Digital Yuan is the digital currency of China. It was first launched in 2014 and has been working (test working) since then. The Digital Yuan is not a crypto currency. It is controlled by the Central Bank of China. The ..
For the adoption of digital currencies, the first Global Consortium which focussed on creating a framework for Governance of Digital Currencies was announced on Friday, 24th January 2020 by the World Economic Forum. The announcement was made during the last ..
On December 28, 2019, Finance Minister Nirmala Sitaraman announced that Merchant Discount Rate (MDR) will not be applicable on bank transactions made through RuPay and UPI platforms. Highlights The Finance Ministry has directed the banks to start campaigns to popularize ..
Bitcoin is one of the most well-known as widely used cryptocurrency in the world. Bitcoin is a global digital currency without the backing of any central bank or regulations of a single administrator. How do bitcoins work? Bitcoins are created ..
The Inter-Ministerial Committee (IMC) set up to look into the legality of cryptocurrencies and blockchain has recently submitted its report to the Finance Ministry and recommended that private cryptocurrencies be banned completely in India. It has also drafted a law, ..