Money and banking

Indian Economy (CDS)

Title

45:30

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38 of 100 completed

8 of 20 completed

Indian Economy - Understanding the basics of Indian economic system

Consider the following statements in respect of the digital rupee:

1. It is a sovereign currency issued by the Reserve Bank of India (RBI) in alignment with its monetary policy

2. It appears as a liability on the RBI's balance sheet.

3. It is insured against inflation by its very design.

4. It is freely convertible against commercial bank money and cash.

Which of the statements given above are correct?

This questions was previously asked in

UPSC CSP GS Previous Year Paper 2024

1 and 2 only

1 and 3 only

2 and 4 only

1, 2 and 4

1, 2 and 4.

The Digital Rupee or eINR or E-Rupee is a tokenised digital version of the Indian Rupee, issued by the Reserve Bank of India as a central bank digital currency.
The Digital Rupee was proposed in January 2017 and launched on 1 December 2022.
Digital Rupee is using blockchain distributed-ledger technology.