Punjab National Bank is sending a message to its account holders these days. If you also have an account in PNB, then this message or email must have come to you too. Actually, this message of the bank is about digital currency.
Do you know what digital currency is and how it is used? Before understanding the meaning of PNB’s message, it is important for you to know what digital currency is. Let us give you all the information about digital currency from A to Z.
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What is digital currency
Digital currency is a type of currency that exists only in electronic form. It is not like paper notes or coins, but it is deposited, transferred and transacted in the digital system.
Central Bank Digital Currency (CBDC) is issued by the central bank. In India, RBI has issued digital rupee (e₹). It is a legal tender just like paper notes and coins, but it exists only in electronic form.
Benefits of digital currency
– Fast and cheap transactions
-Promoting cashless and paperless economy
-Transparency and tracking is easy
Facilitates cross border transactions
What facility is PNB providing
In a message sent by Punjab National Bank, the bank said, “We are happy to improve and transform your digital experience with RBI’s digital currency.”
PNB said, be the first to experience your currency in digital form in your CBDC wallet.
You will be happy to know that now you can transact on any UPI QR code using your CBDC wallet.
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