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Fintech firm Cred joins Indian central bank's digital currency project

Reuters
Summary
Nutrition label

82% Informative

Tiger Global and Peak XV backed Indian firm Cred has become the first fintech platform to roll out access to India 's central bank digital currency.

Reserve Bank of India had started a pilot for the e-rupee, a digital alternative to the physical currency, in December 2022 .

Initially, the central bank had permitted only banks to offer access to the digital currency but in April 2024 said it will allow payment firms to offer transactions.

VR Score

92

Informative language

97

Neutral language

83

Article tone

formal

Language

English

Language complexity

59

Offensive language

not offensive

Hate speech

not hateful

Attention-grabbing headline

not detected

Known propaganda techniques

not detected

Time-value

short-lived

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no external sources

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