Digital currency Current Affairs, GK & News
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 day of the 50th annual meeting of WEF, held in Davos, Switzerland. Over 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 UPI and RuPay debit cards. Also, the banking companies with an annual turnover more than ..
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 as a reward for a process known as mining in which computing power is used ..
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, the ‘Banning of Cryptocurrency & Regulation of Official Digital Currency Bill, 2019’, which mandates a ..
Inter-Ministerial Committee on Virtual Currencies headed by finance secretary Subhash Chandra Garg has submitted its report to the government. The committee set up by Centre has also proposed a draft bill ‘Banning of Cryptocurrency & Regulation of Official Digital Currency Bill, 2019’. Background Government had constituted an Inter-Ministerial Committee (IMC) on 2 November 2017 under ..
Month: Current Affairs - July, 2019
Category: Economy & Banking Current Affairs
Topics: Banning of Cryptocurrency & Regulation of Official Digital Currency Bill 2019 • Digital currency • DLT Technology • Inter-Ministerial Committee on Virtual Currencies • Private Cryptocurrencies • Subhash Chandra Garg Committee