IEP Chandigarh
State Bank of India, Punjab Engineering College and ICICI Bank jointly organized a function to launch the Central Bank Digital Currency (CBDC) issued by the Reserve Bank of India on 25th January, 2023 in the PEC auditorium from 3pm to 5pm. The event was conducted by Mr. Anuj Ranjan, General Manager, RBI, Mrs. Varsha Bajpai, General Manager(HR), RBI, Mr. Vinod Jaiswal, Chief General Manager, SBI and Mr. Jasminder Chahal, Tricity and Punjab Head, ICICI Bank.Mr. Vinod Jaiswal CGM SBI welcomed the students, staff and faculty members for attending the CBDC outreach program . He expressed his joy for having the opportunity to be a part of the pilot project and talked about the 300+ merchants who have been enrolled by SBI to be a part of the retail pilot project in the region . Mr. Jasminder Chahal from ICICI Bank expressed his pleasure to be a driving force in India’s digitalization as an economy. He also expressed his belief in the role of digital currency in enhancing the financial inclusivity of the nation.The event focused on describing the advantages of the digital currency touching on various related issues such as the trust, safety, liquidity, settlement finality and integrity of the CBDC. The officials also explained the various reasons behind the issuance of CBDC. The major ones included cost reduction of issuance of money and transactions, convertibility of CBDC from and to commercial bank money and cash etc. Mr. Anuj Ranjan, GM, RBI concluded the event answering various different questions asked by the audience.The session saw interactive participation and was a huge success as it enlightened the students and faculty members attending the event about CBDC as an emerging technology in all segments of markets across India.
