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21 January 2021

Digital ruble will undercut bank profits but help businesses: Bank of Russia

Digital ruble will undercut bank profits but help businesses: Bank of Russia


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Russia’s digital ruble is expected to reduce business costs, but could also cut profits for commercial banks, according to Elvira Nabiullina, the chairwoman of the Bank of Russia.

3 meeting of “Opora Russia,” a non-governmental organization of small- and medium-sized business, Nabiullina said that a digital ruble could undercut commercial bank profits from commissions and transaction fees. .

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