<p>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.</p>.<p>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 the digital economy in the years to come.</p>.<p>"The digital rupee will be the digital form of our physical rupee and will be regulated by the RBI. This will be such a system that will enable the exchange of physical currency with digital currency," Modi said at the virtual symposium, which was attended by chief ministers of BJP-ruled states and party workers across the country.</p>.<p><strong>Also Read — <a href="https://www.deccanherald.com/business/union-budget/union-budget-2022-tough-news-for-millennials-modern-investors-1076962.html" target="_blank">Union Budget 2022: Tough news for millennials, modern investors</a></strong></p>.<p>"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.</p>.<p>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.</p>.<p>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.</p>.<p>Finance Minister Nirmala Sitharaman had announced that India will launch a 'digital rupee' in 2022-23 using blockchain and other technologies. </p>.<p><strong>Watch the latest DH Videos here:</strong></p>
<p>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.</p>.<p>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 the digital economy in the years to come.</p>.<p>"The digital rupee will be the digital form of our physical rupee and will be regulated by the RBI. This will be such a system that will enable the exchange of physical currency with digital currency," Modi said at the virtual symposium, which was attended by chief ministers of BJP-ruled states and party workers across the country.</p>.<p><strong>Also Read — <a href="https://www.deccanherald.com/business/union-budget/union-budget-2022-tough-news-for-millennials-modern-investors-1076962.html" target="_blank">Union Budget 2022: Tough news for millennials, modern investors</a></strong></p>.<p>"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.</p>.<p>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.</p>.<p>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.</p>.<p>Finance Minister Nirmala Sitharaman had announced that India will launch a 'digital rupee' in 2022-23 using blockchain and other technologies. </p>.<p><strong>Watch the latest DH Videos here:</strong></p>