Crypto Currencies are Threat to Financial Stability?
Cryptocurrencies, according to Reserve bank governor Sakthikantha Das, are a threat to financial stability. "Private cryptocurrencies represent a threat to the country's financial stability," he stated at the Reserve Bank's monetary policy unveiling in mumbai yesterday. Investors should use caution and invest with the understanding that they do so at their own risk.
The Reserve bank of australia is attempting to establish its own central bank, the wallet PLATFORM' target='_blank' title='digital-Latest Updates, Photos, Videos are a click away, CLICK NOW">digital currency Authority (CBDC). We took considerable care and prudence in doing so. Because there are numerous risks involved. The first major obstacle is to avoid counterfeiting wallet PLATFORM' target='_blank' title='digital-Latest Updates, Photos, Videos are a click away, CLICK NOW">digital currency. It may be recalled that in her budget speech, Finance minister Nirmala Sitharaman stated that she intends to put wallet PLATFORM' target='_blank' title='digital-Latest Updates, Photos, Videos are a click away, CLICK NOW">digital money into circulation during the next financial year.
Meanwhile, RBI governor Shaktikant Das stated that the repo rate will continue at 4% and that the country's economic growth (GDP) will be 7.8% in the fiscal year 2022-23. The RBI's Monetary Policy Committee agreed there will be no change in interest rates at its bi-monthly meeting. As a result, the repo rate will continue at 4%, while the reverse repo rate will remain at 3.35 percent. "India's economy is fast increasing, according to the IMF. Because of broad usage of the corona vaccine and sound budgetary policies, this is doable. In FY2022-23, India's growth is expected to be 7.8% "he stated