cryptohunter
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In India, electronic money institutions like those with prepaid payment instruments (PPIs) or digital wallets can't make their own digital currencies. Only the central bank, the Reserve Bank of India (RBI), has the power to create and manage the official currency.
Even though these electronic money institutions help with digital transactions, they have to follow the rules set by the RBI. The digital money they use in transactions is like a claim on the official currency issued by the central bank.
Around the world, there's talk about digital currencies, especially those from central banks. It doesn't seem like electronic money institutions in India will be allowed to make their own separate digital currencies.
Even though these electronic money institutions help with digital transactions, they have to follow the rules set by the RBI. The digital money they use in transactions is like a claim on the official currency issued by the central bank.
Around the world, there's talk about digital currencies, especially those from central banks. It doesn't seem like electronic money institutions in India will be allowed to make their own separate digital currencies.
