Digital Money

Digital currency and fail-safe wireless connectivity should have preceded demonetisation

Sharma founded One97 Communications in 2000 and subsequently Paytm a decade later in 2010. In November 2021, Paytm went public, raising $2.5 billion at a valuation of $19 billion

From Ranjeeth Bellary, Partner, EY Forensic & Integrity Services to Rajsri Rengan, HoD - Banking & Payments, India & Philippines, FIS here are panelists who will speak on Technology in Banking

Hints at the need to make transactions on the platform chargeable

CoinSwitch is expected to launch its new products by 2023 to become the first Indian crypto company to diversify into other asset classes

Vinay Choletti leaving as Meta-owned messaging platform ramps up investments in its payment service in India

The company is in talks with SoftBank Group Corp.'s Vision Fund, an investor in PhonePe's parent entity Flipkart, although Walmart will remain top investor, the people said

Wholesale segment averages Rs 325 crore per day in November

The central bank digital currency is unlikely to replace cash and other digital mediums of transactions but could coexist with them

Around 2,000 transactions recorded in first three days of pilot; aim now is to erase digital trails between wallets

Anonymity factor is critical for its acceptance, asserts Dinesh Khara

Aims to involve 50,000 merchants, customers in the next few days

In CBDC, the core banking will have a one-time debit for currency purchase, but all subsequent transactions, which move from wallet to wallet

RBI says digital rupee for retail segment will be in the form of a digital token that represents legal tender, to be issued in same denominations as paper currency and coins

On Tuesday, the world's biggest exchange, Binance Holdings Ltd., was set to acquire troubled rival FTX.com. On Wednesday, Binance walked away from the deal citing problems with FTX's finances

Russian bank Unistream, which specialises in money transfers, has seen a surge in remittances since Moscow began operations in Ukraine and plans to launch instant transfers to India, Turkey

In the last seven days, Bitcoin rose nearly 3 per cent, and Ethereum gained 13 per cent. The total crypto market cap rose from $1.03 trillion to $1.1 trillion

Cashlessness doesn't actually limit crime but it does limit access to the levers required to commit large white-collar crimes

Smaller cities have recorded high acceptance of such transactions as cash use declines in country.

Fed is debating whether to develop a digital currency, as are most central banks around the world. A decision has not been made, and officials say it would take congressional approval to move forward