Page 106 - BFSI CHRONICLE 10 th Issue (2nd Annual Issue ) .indd

BFSI Chronicle, 2 nd Annual Issue, 10 th th Edition July 2022
BFSI Chronicle, 2 Annual Issue, 10 Edition July 2022
nd
CENTRAL

BANK DIGITAL

CURRENCY -

CBDC

he “Digital Rupee” will be based on Blockchain
Technology and is expected to be up and running
by the end of March 2023. This Digital Rupee will
Tbe financed by the Reserve Bank of India.

Digital Rupee would also lead to a less costly and more effi -
cient Currency Management System. The Finance Minister
Smt. Nirmala Sitharaman said the Digital Currency would

offer a “Big Boost” to the Digital Economy.
“Introduction of Central Bank Digital Currency” (CBDC)
will give a big boost to the digital economy. Digital curren-

cy will also lead to a more efficient and cheaper currency

management system. It is therefore proposed to introduce
Digital Rupee using blockchain and other technologies
and to be issued by the Reserve Bank of India starting in
2022-23.”
Finance Minister Smt. Nirmala Sitharaman.

How much money does the Government of
India Spend to Print Currency Notes?
The Government of India Spends through
Reserve Bank of India:

`4.18 to print every ` 2,000 Notes.
`2.57 for `500 Note and

`1.51 to get a `100 Note printed, as per
Bharatiya Reserve Bank Note Mudran (P) Ltd.

` 1.01 is spent to print a `50 Note.
Dr. Sai Sudha Puvvala
Cost to Print ` 20 Note, ` 1, is a Paisa cheaper
------------------------------
than the Cost of Printing a ` 10 Note.

The Institute Of Cost Accountants Of India

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