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The Union Budget 2022-23, proposed to introduce the “Digital Rupee” using blockchain and other technologies. "Central Bank Digital Currency" is introduced for “Digital Rupee”. Who is the regulator of "Central Bank Digital Currency"?
SBI
RBI
SEBI
ECGC
NABARD
- The Union Budget 2022-23 mentioned the introduction of the "Digital Rupee" using blockchain and other technologies, referring to the creation of a Central Bank Digital Currency (CBDC).
- RBI: The Reserve Bank of India (RBI) is the regulator of the Central Bank Digital Currency, such as the "Digital Rupee".
- SBI: The State Bank of India is a banking institution and not a regulatory body for currency.
- SEBI: Securities and Exchange Board of India regulates securities and commodity markets, not currencies.
- ECGC: Export Credit Guarantee Corporation of India provides export credit insurance.
- NABARD: National Bank for Agriculture and Rural Development supports agricultural and rural development projects.
- Correct Answer: Option 2 - RBI
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