RBI’s e-Rupee versus UPI | central bank digital currency | UPSC IAS | StudyIQ
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- Опубліковано 16 вер 2024
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From what I can predict, after few years UPI with charge some MDR amount for each transaction and digital rupee won't, and as people after already habitual of online money transfer, all the people using UPI will divert towards E-rupee.
UPI should not charge mdr ammount for each transaction
@@EN乄AnTHny90856 it will eventually, because there is a cost associated with UPI transactions for banks and volume of digital transactions is only going to increase in future. Larger volume means larger cost for banks. So after a certain limit, bank would want more money from govt or charge for each transaction then govt would like the poeple to use E-rupee instead of UPI.
@@nikhilsingh6243 upi costs are nothing as compared to what govt actually earns indirectly due to its use. 😂 UPI will not charge MDR ever because of its indirect benefit to govt as taxes. Not to mention there is intangible benefits like strategic control over it, kyc linked due it using bank. Hence reimbursement of upi charge is packet change for govt.
@@rapiddu6482 earning is of govt, not the banks. Banks will demand more amount from govt. Also, govt will have every benefit with E-rupi that it has with UPI.
@@rapiddu6482 correct if the volume of transaction increase in UPI than most of the benefits will directly going to the government by income tax as they can calculate our transaction and put a proper taxation to us.
E Rupee will be used in exchange of foreign currency in future.
Correct
Ans. D - Pharmaceuticals
8 core industries: coal, crude oil, refinery products, natural gas, cement, steel, electricity and fertilizers which forms about 40% of the weightage of IIP.
Option D is right
Eight core industries are: Coal, Crude Oil, Natural Gas, refinery products, cement, fertilizer, steel and electricity
I believes that e-Re will capture 70% of present Upi transaction with in one year and it willl grow more and more in future.
Love Modigi because of modern outlook.
Love from Kerala.
I think e rupee will be majorly used with savings account and UPI with current account. Most loans are linked to business and current account. The daily spending people are now doing with UPI shall be made with e rupee and the business and loans will not have much access for digital rupee and banks also won't be loosing their ability to give loans and work. 🙂🙂
E-ruppi बहोत सुरक्षित है क्योंकि इसको रिझर्व बैंक का सपोर्ट है , अगर कुछ हुआ तो उसका जिमेदार रिझर्व बैंक रहेंगा ,और रिझर्व बैंक बहोत भरोसे लायक है 🙏😍🙏
Achha or upi ko kiska support hai, Swiss bank ka?
UPI bhi reserve Bank ka hi h.
Every note costs Rs. 2/- (approx). This will save big amount for RBI.
Maybe we will have one more demonetisation in future.
India recorded 23.06 billion digital transactions worth Rs 38.3 lakh cr in the third quarter of FY23 of which, 19.65 billion were UPI transactions worth Rs 32.5 lakh cr.
UPI and the digital Rupee both are different things. One is currency and another is a platform to carry out transactions.
First video h jisne itna clear kar diya e rupi aur UPI ke bich diffrence. Hat's off to you sir . Thanks for outstanding knowledge sharing with us.
UPI was best...
UPI is best...
UPI will be best...👍👍
Watched 4 other videos on this topic but Your explanation is to the point sir.... thank you
Another thing is limitation. UPI has a daily transaction limit. If e-₹ is going to do the same or not is a thing to see.
UPI is easier and familiar than E-Rupi.🙏🏼
Both have respective importance
Both are easy .. UPI was also not easy when first launched but now people know how it works but when govt. Implement charges on upi then e rupee will see huge growth
UPI is used for small amount and e-rupee is for any big amount. And e-rupi is different thing it's for govt subsidy 😘
@Investment Carvan it's best until govt. Not imposing charges.. then you pay charges or take interest will see
Well we feel this because we are already using UPI for a long time. Wait for a while you will be familiar with e₹ too
But what is the advantage of keeping money out from bank accounts into e-₹ during falling RoI? Because e-₹ wallet isn't going to give any interest on the capital.
Coming days upi transactions geting charges
Seen a lot videos but got understood here..thank you Ankit sir for such accurate analysis 😊
Upi is so easy & safe not only for city peopels, also have villegers , so upi is best 🥺❤️
Well, both will coexist. We need new tech, some chip type system so that e-rupi becomes successful.
After the adoption of E-Rupee it will get as popular as UPI and then also the same problem of Transaction Cost will exist. So how does this E-Rupee overcomes this challenge of Transaction cost ?
UPI provide a platform for transaction so they would charge for it ....But E- Rupee is not a platform ...it same as the currency u hold in ur pocket and give it to vendor while buy anything but here that currency will not in physical form but in digital form....
@@behuman481 Good Explanation Sir, For any such kind of digital activity one will at least need the following
1. Instrument (smart phone / Basic Phone)
2. Connectivity (Mobile Connection / Internet)
3. Platform ( Application)
4. High End Data Servers
As far as I understand huge amount of money and resources will be required to keep the Platform (Application) and Data Servers functional 24x7. For some years Govt. will be able to bear the cost and eventually some day it will be passed on the the users.
@@bravo5972RBI will use the amount of cost which is used for printin' currency notes for the maintenance of e rupy transaction & platform
I m not so much sure but What I think I will share with u.... Right now the RBI take the responsibility to print currency notes of different denomination and then get it distributed.... But RBI do not charge to us for that making charges of notes to us... For us the value ₹500 currency note is exactly the same for any asset costing ₹500.... RBI do not reduce its value by few rupee in name of making currency...
Hence similarily now RBI want to digitalize its physical currency into digital currency ....N yeah as u said it will also include extra cost in the following setup...But as far my knowledge this extra cost in digitalizing currency would be very less to making cost of physical currency....
But RBI never charged to give us access to physical currency that was costlier hence it would not going to charged us for cheaper accessible digital currency..
N more.... If a person would have phone & network he would not have to spent extra to download an app for e rupee....
You have a good point, Cost of Printing and Distributing Currency Notes is huge.
No country, Developed or Developing can eliminate Physical Currency completely in near future. Can reduce printing and circulation and divert the saved cost to E-Rupee Project.
Having a Mobile phone and Internet will allow the User to download the App for no extra cost but there is a lot of operational expenses for developing and keep the App running.
Right now E-Rupee seems to solve the problem of transaction cost only if the Govt. decides to bear the entire cost of it's own just like it does for Printing and Circulating of Currency Notes.
I read this topic many sources but this topic is cristal clear in this channel so thanku so much
Small charge lena chaahiye UPI transaction par. Sabhi Indian samajh jayenge
Will UPI be used to trnsfr e rupee
Kya Guarantee hai ki e₹ par future me koi charges nhi lagega,kal RBI bolega block chain technology server maintenance RBI par burden hai????🤔🤔🤔
We should also look from CORRUPTION ANGLE
Sir, since this is in launch phase. Things will be subsidised that 1% once fully activated. Lets not judge things negatively.
Later things will be authorised via banks & they will be benefitted too. 1200 crores is not a big deal.
Sir, can we deposit e rupee in our account like sbi or in any other account?
No
Basically crypto but with legal tender
UPI will exist as it is, e-Rupee will just replace cash transactions
Thanks sir, now the doubt is clear after your analysis
I have a doubt, are digital rupee and normal rupee interchangeable between each other?
Ans. (D) pharmaceutical industry is not covered in the 8 core industries of iip.
Very elaborative and informative.
This will stress out pick pocketers and make hacker happy
🙃😂
Eruppe also requires infrastructure . it also server and electricity. The only difference is that cost wil be beared by Rbi instead of the bank.
I think government is planning to put the burden of currency management on consumer.
No substitute to cash😍
I think UPI is much easier to understand and use
Sir सबसे अच्छा है कैस दो कैस lo,
Aaj e rupi par koi charge नहीं है, लेकिन आने वाले कल pr to koi charge karenge....
Always helpful 😊🙏
Because of UPI and erupi, the biggest loss is to Gandhis face.
that's what we want 😏
@@AnshuKumar-dz5tb andbhakto hr jagaj andhbhakti mt kiya kro
@@ManojChaudhary-bh9iv Theek hai bhai fir E-Rupi ka name change karke E-Gandhi kar dete hain, khush ?
@@ManojChaudhary-bh9iv librandus spotted
Is data storage of all transaction free? Obviously there will be cost for e rupee also. In future it may be transferred to end users
First of why are they assuminh 0.1% cost lol. 😂 That same RBI paper discusses the actual amount as well. Who is the joker who made this material. It's not 0.1% it's way lesser. Than that.
E-rupee pr bhi tax lagna chahiye, and 1% TDS bhi...............
Cash is best...I would prefer it as long as it is not totally abolished..
Ok
I think Govt. Will make upi chargeable and digital rupee non chargeable in future.
Ultimately the one that will win is Analogue Rupee
How will banks survive if E-Rupee picks up?
e - rupi k chalane k liye koi kharcha nehi hota hai keya?
E-Rupi is NPCI's initiative
Digital Rupee is Central Bank's
E-rupi will will with small amounts & UPI will with large amounts
Physical notes will lose
UPI is a money transfer mechanism. So it incurs some cost, okay. Then e-rupi transfer will also require some mechanism, so it will also incur some cost. So why not RBI will charge for e-rupi?
I was just about to search "E-Rupi study IQ" and the video poped up in recommendation 😁
There is no comparison between UPI and e-rupee. both are different..
Is it possible to keep black money in the form of e-rupee instead of cash?
बहुत ही सराहनीय प्रयास 👌
UPI is bank to bank transfer, which cost money to process, UPI is currently free because Govt. is paying the cost in behalf of the UPI users to promote cashless India.
CBDC transaction happens directly between sender's Wallet to receiver's Wallet, no bank operational cost involved, just like physical wallet transaction with paper currency.
What happened if someone went wrong...no interest,no internet 😀
We will totally gona depend on internet
Is it possible to integrate both
Great Explanation Sir🙏🏻
UPI transaction karke kuchh jahil aate hn sir bank passbook print karwane keliye .bht gussa aata hai ush time .ek mahine mn pura passbook khatam ho jata hai
Pharmaceutical is the not covered in the
"Index of Eight Core Industries".
Pharmaceutical is not come under 8 core industries
Very well explained sir
Option D
Wow awesome explanation 👏
D) pharmaceuticals
Ans is D
🌸tysm🕊️
iske liye bhi koi app wagera hoga kya RBI ka...wallet kuch mai toh hoga na®️
5:51 Correction: Centralized ledger can't be blockchain, any type of centraliztion can't be blockchain at least in my view.
Jo bhi ho.. prime purpose economy ko maximum cashless karna hai.. banking sector will struggle for their survival.
Basically E-ruppee will be monitored directly by RBI . hence there will be no black digital currency. But they have to reduce income tax in E-rupee. Otherwise no any person will be intrested . It is totally transparent. And i am sure that they have some digital currency number so that RBI can monitor digital currency like we have some serial number in CURRENCY NOTES.
Excellent analysis
Crude oil B
I think e rupee me kuch limitations laga sakte hai ki customer sirf limit amount me e rupee jama kr skte hai. Or baaki pesa bank me jama karne diya jaye
You jai ho
Pharmaceuticals
Ans is d
Instead of levying charges on UPI charge on cash withdrawal.
e-rupee aane par bank bohot jyada interest rates degi savings par. 🤔
I will use cash
Is Digital Currency like NFT? Can e-Rupee be transferred without the internet?
Yes
Yes
Thank you so much sir ❤️
thank you sir
E rupee se jinke pas phonepay Google Play wagera nahi hota or village ke logo ko bhi use karne me asani hogi jinke pas upi nahi hota
Great analysis
Nice
Ans -d
To kya hume eRupee ko rakhane k liye RBI me account open karna padega? Aur kya iske liye bhi koi app ayega jiske through hum transaction karenge?
Thnku sir
Pharmaceutical not in eight core industry
Ans. D ( pharmaceutical)
Upi vs Digital who will win? Its INDIA .....Upi for daily consumer and Digital currency will be used by country institution transactions or foregin currency
Doubt cleared
Banks should charge for UPI through sms charges. Customers will not feel good if their money is in e₹upi wallet since they are not getting any interest.
Thanks a lot sir 🙏
d
sir, we will be able to do mining of e-rupee?
D
option D
Pharmaceutical industry