Which ministry launched the 'National Digital Rupee Retail (e-Rupee) Phase II' expansion program in 2025 to increase digital currency adoption across India?
AMinistry of Commerce and Industry
BMinistry of Finance
CMinistry of Information Technology
DMinistry of Consumer Affairs
Correct Answer:
B. Ministry of Finance
Explanation:
The Ministry of Finance is the correct answer because it holds primary responsibility for monetary policy, financial infrastructure, and currency management in India, making it the appropriate authority to oversee digital currency initiatives like the e-Rupee. The National Digital Rupee Retail Phase II represents an expansion of the central bank-backed digital currency program, which falls under the financial regulatory framework managed by the Ministry of Finance in coordination with the Reserve Bank of India. Other ministries like the Ministry of Electronics and Information Technology or Ministry of Communications handle related aspects such as digital infrastructure and IT implementation, but they do not have primary authority over currency or monetary policy decisions. The Ministry of Finance's launch of this program demonstrates the government's commitment to modernizing India's financial system and increasing adoption of digital payment solutions across the retail sector.
