The Reserve Bank of India (RBI) is said to be in favour of introducing a 'digital fiat currency' in India. What is/are the possible impact(s) of introducing a 'digital fiat currency'?
1. The banks will have no role in transfer of such currencies.
2. If they take off in a big way, they will profit the digital payment product makers, like Paytm.
Select the correct answer using the code given below:
1 only
2 only
Both 1 and 2
Neither 1 nor 2
Digital fiat currency, based on Block-chain, is conceived of because of the inherent advantage of removing the need for intermediaries, including banks, payment gateways etc.
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