RBI Issues Amendment Directions on ‘Review of Framework of Limiting Customer Liability in Digital Transactions’

With reference to Central Bank digital currencies, consider the following statements: 1. It is possible to make payments in a digital currency without using the US dollar or SWIFT system. 2. A digital currency can be distributed with a condition programmed into it such as a time- frame for spending it. Which of the statements given above is/are correct?

This question relates to Central Bank digital currencies, which are part of the evolving digital transaction landscape and customer protection mechanisms.

Consider the following statements in respect of the digital rupee: 1. It is a sovereign currency issued by the Reserve Bank of India (RBI) in alignment with its monetary policy. 2. It appears as a liability on the RBI's balance sheet. 3. It is insured against inflation by its very design. 4. It is freely convertible against commercial bank money and cash. Which of the statements given above

The question about the digital rupee directly connects to the RBI's initiatives in digital transactions and customer liability.

The establishment of 'Payment Banks' is being allowed in India to promote financial inclusion. Which of the following statements is/are correct in this context? 1. Mobile telephone companies and supermarket chains that are owned and controlled by residents are eligible to be promoters of Payment Banks. 2. Payment Banks can issue both credit cards and debit cards. 3. Payment Banks cannot underta

The establishment of Payment Banks is relevant as it promotes financial inclusion and digital banking, aligning with the RBI's focus on customer protection in digital transactions.

With reference to the Banks Board Bureau (BBB)', which of the following statements are correct? 1. The Governor of RBI is the Chairman of BBB. 2. BBB recommends for the selection of heads for Public Sector Banks. 3. BBB helps the Public Sector Banks in developing strategies and capital raising plans. Select the correct answer using the code given below.

The Banks Board Bureau's role in recommending heads for public sector banks is relevant to the regulatory framework that impacts customer protection in banking.