RBI Announces Full-Scale Retail Launch of Digital Rupee (e₹)
The Reserve Bank of India (RBI) has transitioned the Central Bank Digital Currency (CBDC) from the pilot phase to a full-scale retail launch across India.
2-Minute Summary (TL;DR)
- Digital Rupee (e₹) moves from pilot to full-scale retail launch.
- It is a Central Bank Digital Currency (CBDC) and legal tender.
- Aims to reduce cash handling costs and boost the digital economy.
- Transactions are possible via digital wallets provided by banks.
How This Topic is Tested in Competitive Exams
| Exam | Frequency | Approx. Marks | What Gets Asked |
|---|---|---|---|
| Banking (IBPS / SBI) | Very High | 6–10 | RBI policy, inflation, CRR/SLR, monetary committee decisions — banking exams test the full spectrum. |
| SSC (CGL / CHSL / MTS) | Medium | 2–4 | Budget highlights, GDP data, and government economic schemes appear in SSC CGL GK section. |
| UPSC / State PCS | High | 10–20 | Economy is a core UPSC subject. Economic Survey, budget, and policy changes are heavily tested. |
| State PCS / PSC | High | 4–8 | State budget, MSME, agriculture policy, and banking data are common in state PCS papers. |
What to Memorize from This Topic
- Key budget figures: fiscal deficit %, GDP growth projection, key scheme allocations
- RBI rate decisions: Repo rate, CRR, SLR, Reverse Repo — current values
- Rankings: India's position in ease of doing business, hunger index, HDI
- Abbreviations: FRBM, NBFC, MPC, PMGSY, PMGKAY — full forms and purpose
- Trade data: import-export balance, major trading partners
Practice Questions
Q1. What is the Digital Rupee (e₹) launched by the RBI?
- A type of cryptocurrency
- A Central Bank Digital Currency (CBDC)
- A new credit card
- A private digital token
Explanation: The Digital Rupee is a CBDC, which is a digital form of legal tender issued by the Reserve Bank of India.
Q2. Who issues the Digital Rupee in India?
- State Bank of India
- Ministry of Finance
- Reserve Bank of India
- NPCI
Explanation: The Reserve Bank of India (RBI) is the sole authority responsible for issuing the Digital Rupee.
How to Prepare Economy & Finance for Government Exams
Track current Repo Rate, Inflation rate, and GDP growth. These three numbers appear in almost every banking exam.
Keep a running note of new schemes with their ministry, launch date, and target beneficiary group.
Focus on the Economic Survey and Union Budget highlights — these single documents generate dozens of exam questions.
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