UPSC PRELIMS · ECONOMICS · INDIAN ECONOMY: DIGITAL CURRENCY
Consider the following statements regarding the digital rupee: 1. It is a sovereign currency issued by the Reserve Bank of India. 2. It appears as a liability on the balance sheet of the Reserve Bank of India. 3. It is insured against inflation by design. 4. It is freely convertible against commercial bank money and cash. Which of the statements given above are correct?
Take a breath. Choose one. Press A–D on your keyboard if you like.
EXPLANATION
The digital rupee is sovereign money issued by the RBI and is a liability of the RBI. It is convertible with other forms of rupee money, while it is not designed as an inflation-insured instrument, so 1, 2 and 4 are correct.
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