An expert spoke about the prospects of the digital ruble
The use of the digital ruble will allow banks to carry out various operations with the lowest costs, up to cross-border settlements with friendly countries, Konstantin Borodulin, managing director of ratings of financial institutions of the NRA rating service, told Izvestia.
"Banks are concerned about the possible outflow of clients at the introduction of the digital ruble and the reduction of operations in a number of areas, but the Bank of Russia emphasizes that it is not going to monopolize settlements, but, on the contrary, offers a new effective tool, which, with appropriate development will allow banks to offer new products increasing customer loyalty and corresponding commission income," Borodulin explained.
According to him, at the moment it is hard to estimate how much the positive effect of its introduction will be able to cover the losses of banks from the reduction of business in other areas.
"From the middle of 2025, the largest banks will have to provide their clients with full-fledged access to digital rubles (including opening accounts, making transfers)," Borodulin said.
According to the specialist, the process of full-fledged implementation of the digital ruble will take some time and will require reorganization of many processes, as for clients, first of all, payments in digital rubles will be made to employees of state and budgetary institutions.
Last year, on November 25, Capital Lab partner Evgeny Shatov listed the advantages of the digital ruble in a conversation with Izvestia. According to him, the digital ruble allows for instant transactions without the need to physically transfer money or the delays associated with bank transfers. For citizens, transactions with this form of currency can be similar to the use of electronic wallets, payment or mobile applications.
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