Explanation:

Reserve Bank of India (RBI) Governor outlined that the adoption of the Central Bank Digital Currencies (CBDCs) can make cross-border payments efficient.

• A central bank digital currency (CBDC) is the digital form of a country’s fiat currency.

• CBDC can be transacted using wallets backed by blockchain.

• These are legal tenders issued by a central bank.

Features of CBDC

• CBDC is a sovereign currency issued by Central Banks in alignment with their monetary policy.

• Freely convertible against commercial bank money and cash.

• Fungible legal tender for which holders need not have a bank account.

• Expected to lower the cost of issuance of money and transactions.

• Payments effected through CBDC would be instantaneous and final

• Reduced reliance on clearing corporations and other settlement infrastructure could cut down energy consumption.

Hence both statements are correct.