How India's proposed digital rupee would be different from cryptocurrency - Yahoo Finance

The Reserve bank of India (RBI) is set to pilot digital currency.
“E-rupee or digital rupee will provide an additional option to the currently available forms of money. It is substantially not different from banknotes, but being digital it is likely to be easier, faster, and cheaper,” said the central bank’s Oct. 7 concept note (pdf).
Read more
3 ways to reduce invisible labor for women at work
36 ways to build a family-friendly culture
Restaurant menu screens are looking at you to decide what you might want to eat
The RBI has been working in a phased manner towards a digital currency’s launch, although there is no deadline.
“Currently, we are at the forefront of a watershed movement in the evolution of currency that will decisively change the very nature of money and its functions,” it said.
The e-rupee will be released in two forms: wholesale for interbank settlements and retail for the public. Although issued by RBI, commercial banks can distribute digital currency further.
One has to hold it in an e-wallet provided by a bank or any registered service provider, the RBI note said.
Unlike cryptocurrencies, which are private in nature, RBI’s Central Bank Digital Currency (CBDC) will be issued and controlled by the central bank itself.
The transfer of e-rupees to the general public will happen through a token-based system. A person transferring the digital currency must have the recipient’s public key (a sort of digital address). The transfer is made using the recipient’s private key (a unique password) along with the public one.
“…Unique tokens based on agreed techniques would need to be created, which may be slightly resource-intensive,” the RBI concept note said.
Transactions are likely to be partially anonymous: Transactions with higher amounts may have to be disclosed mandatorily, while those of smaller ones can remain anonymous, just like in cash transactions.
The RBI isn’t in favour of the e-rupee earning interest. It believes that if the e-rupee earns interest, users may withdraw funds from banks and convert them into digital form, affecting India’s financial and banking system.
Millennials have given up on stocks. Act accordingly.
After two years of strong pandemic-fueled demand, the PC market has fallen into shambles. Advanced Micro Devices (NASDAQ: AMD), the No. 2 player in both the PC and server CPU markets behind Intel (NASDAQ: INTC), has not escaped the pain. Given the state of the PC market, Intel's weak outlook, and the fact that AMD's new Ryzen desktop chips have a pricing problem, the end of the year is going to be rough for AMD.
Chances are you'll never get another opportunity to buy these superb businesses this cheap again.
The emblematic brand of 4×4 has just filed for bankruptcy in one of the most important automobile markets.
The question is whether it can make progress on its issues with growth and profitability at the same time.
Investors in beaten-down Chinese stocks desperately want to see good news. An easing of strict Covid-19 measures could be what they've been waiting for —if true.
Cryptocurrency took the market by storm last year, but in 2022, crypto performance has been more than underwhelming. Bitcoin, still the largest of any crypto, is down 56% year to date, and Ethereum has fallen 58%. In addition to the bubble bursting in crypto, the blockchain-based currencies have yet to provide significant functionality in the world.
Frustration is a reasonable response to Meta Platforms' (NASDAQ: META) aggressive spending on its metaverse ambitions. The logical move would be to cut back on your spending, especially when Meta's Reality Labs segment is bleeding cash. Wall Street disapproves of Meta's actions, and has slaughtered the stock price over the past 12 months.
The financial-technology company posted results that were dubbed "outstanding" by one analyst
Goodyear (GT) delivered earnings and revenue surprises of -34.43% and 4.70%, respectively, for the quarter ended September 2022. Do the numbers hold clues to what lies ahead for the stock?
Warren Buffett once quipped, "Only when the tide goes out do you discover who's been swimming naked." You might even say that the latest earnings reports from Apple (NASDAQ: AAPL), Bank of America (NYSE: BAC), and Chevron (NYSE: CVX) show that the Warren Buffett way still works. What is the Warren Buffett way?
Elon Musk could further expand his hub of operations and attract software developers in a key region by bringing a Twitter presence to the Lone Star state.
One of my largest stock investments, STORE Capital (NYSE: STOR), recently agreed to be taken private. I decided to sell my shares, which freed up a large amount of capital to reinvest, and here are the seven stocks I bought with it.
Yahoo Finance Live anchors discuss Wall Street analysts' downgrades on HanesBrands, Paramount, and Caterpillar.
Eli Lilly topped third-quarter expectations Thursday, but cut its 2022 outlook, citing exchange rate challenges and changes in tax law.
Qualcomm shares have experienced adverse price action year-to-date, down more than 30% and widely lagging behind the S&P 500.
If you really want to rev up your retirement savings and minimize income taxes, the best thing to be is a late-career professional in private practice. When you’re making a lot of money and are close to retirement age, you have savings options that go way beyond the levels of the typical workplace 401(k) plan. As long as you can handle a little extra paperwork and some fees, you can set up a solo retirement plan and enjoy higher limits than most employees.
SoFi Technologies Inc. shares were surging in premarket action Tuesday after the financial-services company topped expectations with its latest results and boosted its full-year forecast. The company generated a third-quarter comprehensive loss of $75.8 million, or 9 cents a share, compared with $30.0 million, or 5 cents a share, in the year-earlier period. Analysts were modeling a 10-cent loss per share, based on four estimates. SoFi also logged adjusted earnings before interest, taxes, depreci
Last week, earnings season reached a crescendo of sorts, and it was a massively out of tune climax. All the tech giants reported, and barring Apple, all faltered badly, weighed down by the tough economic backdrop amidst waning demand and fears of an upcoming full-blown recession. This week brings with it a plethora of other interesting quarterly statements, with big names in the semiconductor industry readying to deliver their latest financial statements. Like most corners of the market, chip st
Five companies will report earnings results today after the closing bell. These are: CHK, MCK, ENLC, LTHM and ZI.

source

How To Make Huge Profits In A Short Time With Crypto
Get detailed training system that shows an absolute beginner (without any skill) how to make huge profits in a short time with crypto.