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The central bank says the currency would be "digital cash", backed by the government and sitting alongside notes and coins.Explaining the potential benefits of a CBDC, the Reserve Bank's director of money and cash, Ian Woolford, says it would "support competition and innovation by enabling our powerful fintech sector".He continues: "Digital cash would be mainly used for payments by individuals and businesses, to pay online, instore, or even to pay your child’s pocket money in the same way you can use cash currently.

Mint. According to a Bain Capital report released this March titled ‘India Venture Capital Report 2024’, even as fund-raising slowed to $4 billion in 2023, domestic VCs stepped up, driving more than 90% of the fund-raising and, significantly, launching several thematic funds focused on emerging themes. While sector-specific funds have existed for some time, it is only now that they are coming centre stage, as investors become more discerning and look to make targeted bets in sunrise industries to maximize returns on capital deployed.

Pavel Durov, founder of the encrypted instant messaging app Telegram, believes that growing government surveillance will drive innovation in secure communication, modeled on cryptocurrency hardware wallets.

A key element is to enhance coordination among MDBs. While the diverse structures of MDBs have their own merits, addressing new global challenges will require resources and capabilities of a magnitude beyond the capability of any single MDB. The current dynamism on the reform agenda stems primarily from the pressure exerted by the shareholders via various forums, including the UN, the G7, and the G20. Among these, the role of the G20 has been particularly crucial. Starting with balance sheet optimisation measures in 2015, the G20 has been slowly and steadily nudging the MDBs to identify necessary actions to strengthen themselves for meeting spiraling development financing needs. The 2022 recommendations from the Independent Review of MDBs' Capital Adequacy Frameworks (CAF) were a significant outcome.

In Q1 2024, the Solana blockchain led the pack with an impressive 2.4 Billion transactions. Despite its success, Solana faced issues with transaction failures that stirred negative market reactions. Meanwhile, the Aptos (APT) price struggled, dropping over 16%.

Since GPUs are scarce and very expensive, the Indian government has two options: let businesses and industry solve its own GPU problem or spend public money to make GPUs more accessible to startups, research bodies and key industries, just as it has done with the Production-linked Incentives (PLI) scheme to promote key industries for its Make in India mission. In the first case, India will remain a laggard in AI and other emerging technologies; in the second, it can emerge as a new-age tech hub. Large domestic computing capacity also ensures a country's data sovereignty. The government has realised the importance of GPUs for India and is working to find a solution. It may strike a deal with Nvidia, the world's biggest GPU producer, to source graphics processing units (GPUs) from it, and offer them to local startups, researchers, academic institutions and other users at a subsidised rate under its Rs 10,000 crore Artificial Intelligence Mission, ET has reported based on information form sources.

Insanity Bets is the purist evolution of the CasinoFi sector through the innovative routes it provides its players to earn a passive income from its casino platform.

In a creative and leading-edge move, Just An Egg, a prominent crypto project, has recently acquired the iconic World Record Egg for a staggering $1,000,000. The acquisition marks a noteworthy moment in the world of memes and cryptocurrency, as the World Record Egg is set to be transformed into a meme token on the Solana blockchain. To gain a deeper appreciation of this transition, a dive into the details of the exciting development is necessary.

Indian Space Association, Lt Gen Anil Kumar Bhatt (Retd), extended a warm welcome to Tesla CEO Elon Musk's forthcoming visit to India. Lt Gen Bhatt emphasized the potential for enhanced collaboration between Indian space entities and Musk's ventures, foreseeing a transformative impact on India's space ecosystem. In an exclusive conversation with ANI on Wednesday, Lt Gen AK Bhatt (Retd) highlighted Elon Musk's pioneering contributions to the domain of space technology, particularly through his companies such as SpaceX.

There is an increased need now to have leaders with know-how on tech and systems, says Pranshu Upadhyay, Regional Director, Head-India Technology Practice, Michael Page. Even board directors today need to have a grasp on the fundamentals of artificial intelligence (AI), big data and cybersecurity, says Somdutta Singh, Founder and CEO of Assiduus Global Inc.

The Bank of Israel is launching a sandbox environment for testing CBDC use cases, in an effort to refine the design of the digital shekel and ensure its capacity to facilitate advanced applications.

Raghuram Rajan said, adding that it is important for the country to enhance its human capital and skillsets, PTI reported. Speaking at a conference titled "Making India an Advanced Economy by 2047: What Will it Take" at George Washington University in the United States, Rajan expressed concern over India's current growth rate. "I think we are in the midst of it (demographic dividend), but the problem is we are not reaping the benefits," he stated.

Canada’s finance minister has asked former central bank governor Stephen Poloz to examine ways to entice its pension funds to invest more in the country.

Insurance companies are working to provide customers with greater choice and flexibility to tailor coverage, particularly benefiting mega-risk policies initially and later extending to retail products like motor own damage cover, following a recent notification from the regulator that allows them to change policy terms, conditions, clauses and wordings. The changes could be evident from July or October renewals, as it will take some time for insurance companies to implement these and come up with new and innovative policies, said industry experts. Insurance companies were previously not equipped to free up the policy wordings. By the second fiscal quarter, they will see curated policies coming into the marketplace. So far, insurers have followed a fixed format for their policies and couldn't make many changes, even though pricing had been freed up in 2006.

As Ethereum’s price surges past $3,000 and BNB shows robust growth indicators, investors are closely watching these developments. Meanwhile, BlockDAG captures attention with its imminent presale, priced attractively at $0.006 in its upcoming Batch 10. This marks a significant milestone following a 500% growth since its inception.

Amid concerns over cryptocurrency mining’s environmental impact, Koala Coin (KLC) emerges as a beacon of innovation. Currently in presale stage one at $0.014, Koala Coin (KLC) alongside Dogecoin (DOGE) and Cardano (ADA), is redefining market gains. The clock is ticking, don’t let FOMO sideline you from this groundbreaking opportunity!

Dogwifhat and The Graph folks are known for loving anything new and cutting-edge in the crypto world, and DeeStream seems to fit the bill perfectly. They’re all about giving creators more power and viewers a way more awesome experience. With features that promise to blow traditional streaming platforms out of the water, DeeStream’s presale could be the launchpad to a new way of online watching and creating. Get ready, Twitch – there’s a new challenger in town!

If you’re looking to park your money in digital assets that have the potential to offer you massive returns, you’ve come to the right place. BEFE, CENX, and BRISE have generated a lot of interest among crypto enthusiasts. Some believe these coins could be your passport to a crypto fortune. But what’s so special about these coins? Let us find out.

Juniper Green Energy on Tuesday announced commissioning of 25.2 MW capacity of its 70-MW wind power project. The project has been commissioned almost nine months before the scheduled commercial date of operation, the company said in a statement. The operational 25.2 MW is part of the project's progressive rollout, it said. This project will deliver power under a 25-year Power Purchase Agreement (PPA) with GUVNL at a tariff of Rs 2.90, aligning with efforts to provide cost-effective and environmentally responsible energy solutions, as per the statement.

Householder Group is expanding a key program designed to help high-net-worth advisors with succession planning for their practices.

Aditya Srivastava, a promising young individual from Lucknow, Uttar Pradesh, has achieved a significant milestone by securing the top rank in the prestigious UPSC Civil Services Examination 2023. The announcement of the results on April 16th has highlighted Srivastava's exceptional dedication and perseverance in pursuit of his aspirations. Academic Journey and Professional Background Srivastava's academic journey underscores his commitment to excellence from an early age. Having completed his schooling at CMS Lucknow's Aliganj branch with outstanding results, he continued to excel academically at the renowned Indian Institute of Technology Kanpur (IIT Kanpur).