{"id":26196,"date":"2025-10-27T01:34:42","date_gmt":"2025-10-26T20:04:42","guid":{"rendered":"https:\/\/vajiramandravi.com\/current-affairs\/?p=26196"},"modified":"2025-10-28T16:34:55","modified_gmt":"2025-10-28T11:04:55","slug":"finternet","status":"publish","type":"post","link":"https:\/\/vajiramandravi.com\/current-affairs\/finternet\/","title":{"rendered":"Finternet"},"content":{"rendered":"<h2><strong>About Finternet:<\/strong><\/h2>\n<ul>\n<li>It is <strong>multiple financial ecosystems<\/strong> interconnected with each other \u2013 much like the internet.\u00a0<\/li>\n<li>It would <strong>lower barriers<\/strong> between different financial services and systems, drastically reducing the complex clearing and messaging chains and other frictions that hinder financial systems.<\/li>\n<li><strong>Working:<\/strong> Finternet would be <strong>built on unified ledgers<\/strong> which will bring multiple financial markets such as <strong>tokenized assets, shares, bonds<\/strong>, real estate, on a single programmable platform.<\/li>\n<li>This has the capability to enable individuals and businesses <strong>to transfer any financial asset <\/strong>they like, in any amount, at any time, using any device, to anyone else, anywhere in the world. Financial transactions would be cheap, secure, and near-instantaneous.<\/li>\n<li><strong>Advantages:<\/strong> Finternet will <strong>be user-centric, unified, <\/strong>which means it will cover all types of assets, with a universal infrastructure.<\/li>\n<li><strong>Significance:<\/strong> This would <strong>reduce the complex processes<\/strong> that happen behind-the-scenes today and make transactions slower and expensive.<\/li>\n<li>Central banks would remain at the core of the system, ensuring trust in money, but (like today) work closely with commercial banks.<\/li>\n<\/ul>\n<hr \/>\n<h3>Q1: What is a Card-on-File transaction?<\/h3>\n<p>Card-on-File transaction is a transaction where cardholders authorizes merchants to store their payment information securely and bill cardholders\u2019 stored accounts for future purchases.<\/p>\n<p><strong>Source: <\/strong><a href=\"https:\/\/www.moneycontrol.com\/technology\/nandan-nilekani-gives-a-glimpse-of-the-next-decade-of-indias-finternet-article-12809192.html\" target=\"_blank\" rel=\"nofollow noopener\">Nandan Nilekani gives a glimpse of the next decade of India\u2019s \u2018Finternet\u2019<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Finternet is multiple financial ecosystems interconnected with each other \u2013 much like the internet. <\/p>\n","protected":false},"author":5,"featured_media":26197,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1],"tags":[],"class_list":{"0":"post-26196","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-upsc-prelims-current-affairs","8":"no-featured-image-padding"},"acf":[],"_links":{"self":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/posts\/26196","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/comments?post=26196"}],"version-history":[{"count":0,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/posts\/26196\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/media\/26197"}],"wp:attachment":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/media?parent=26196"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/categories?post=26196"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/tags?post=26196"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}