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Question

What is a digital token that is considered legal tender or sovereign currency and is equivalent to a banknote backed by the RBI?
  • Central Bank Digital Currency (CBDC)
  • Litecoin
  • Ripple
  • Bitcoin
Answer- A
Reliance General Insurance has achieved a historic milestone by becoming the initial general insurance enterprise to adopt the Reserve Bank of India's (RBI) Central Bank Digital Currency (CBDC) e-Rupee (e₹) for collecting premium payments. To allow for digital premium payments the insurer has teamed up with YES Bank and will utilize the bank's e-rupee platform.