Digital rupee can be exchanged for cash: PM Modi
New Delhi (PTI): Prime Minister Narendra Modi on Wednesday said the digital rupee, proposed in the union budget, could be exchanged for cash and will open new opportunities in the fintech sector.
Addressing the 'Atmanirbha Arthavyavastha' (self-reliant economy) symposium organised by the BJP, he said the central bank digital currency or the digital rupee will make online payments more secure and risk free and boost digital economy in the years to come.
"The digital rupee will be the digital form of our physical rupee and will regulated by the RBI. This will be such a system that will enable exchange of physical currency with digital currency," Modi said at the virtual symposium that was attended by chief ministers of BJP-ruled states and party workers across the country.
"Central Bank Digital Currency (CBDC) will strengthen the digital economy... If anyone makes a payment in digital currency, you will be able to change it to cash," he said.
Modi said the launch of CBDC will make digital payments and online transfer of funds more secure and risk free.
"This will also lead to ease in development of global digital payment systems," he said.
He said the digital rupee will revolutionise the fintech sector by creating new opportunities and lessen the burden in handling, printing, logistics management of cash.
Finance Minister Nirmala Sitharaman had announced that India will launch a 'digital rupee' in 2022-23 using blockchain and other technologies.
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Man launches attack with iron rod inside Golden Temple in Amritsar, injures 5
Amritsar, Mar 14 (PTI): A man wielding an iron rod went on an indiscriminate rampage on Friday here at Golden Temple, injuring two 'sewadars' and three devotees, police said.
The man was seen moving in the Guru Ramdas Niwas, also called Guru Ramdas Sarai, of the Golden Temple.
According to Shiromani Gurdwara Parbandhak Committee (SGPC) Secretary Partap Singh, the man turned violent when asked about his antecedents and attacked the SGPC employees and the others.
Police said the man hailed from Haryana and was handed over to them by the SGPC after the incident.
The reason behind the attack is under investigation.
The three injured devotees had come to the temple from Mohali, Bathinda and Patiala, while the other two were 'sewadars' of Sri Darbar Sahib (Golden Temple), Partap Singh said.
One 'sewadar' and a devotee from Bathinda suffered severe head injuries.
The injured were rushed to Sri Guru Ramdas Hospital at Vallah in a critical condition.
Partap Singh said the attacker and an accomplice of his were apprehended and handed over to the police.
In his appeal to the government and law enforcement agencies, the SGPC Secretary called for no leniency in taking action against the perpetrators.
