by In the Union Budget 2022, Finance Minister Nirmala Sitharaman announced the digital currency, also known as Central Bank Digital Currency (CBDC), backed by the Reserve Bank of India (RBI). After that, on December 1, 2022, RBI launched India’s first-ever digital currency, which is available as a digital token for legal tender.
Since then, RBI’s Digital Rupee has received significant attention from crypto lovers. Reliance Retail recently announced that they would accept the RBI’s digital currency as the payment medium in all their leading retail stores. Reliance Retail becomes the first company that will accept the RBI’s Digital Rupee in India. Another aspect is the Reliance retail share price that surges after this news. In this post, we will discuss how this decision of reliance retail will change the Indian retail market.
KEY POINTS
How Will Reliance Retail Accept RBI’s Digital Rupee?
The decision of Reliance Retail to accept digital currency raises so many questions among its customers as well as investors. After this announcement, reliance retail shares showed significant growth, resulting in higher prices. However, the biggest question is how reliance retail accepts the RBI’s digital Rupee.
As per reports of Times Of India, Reliance Retail will accept digital currency via Digital Rupee App in more than 17,000 stores across different cities. Reliance Retail partnered with Kotak Mahindra and ICICI Bank to provide in-store support to its customers. However, the backend operations are managed by Innoviti Payment Solutions.
Impact Of RBI’s Digital Rupee On India’s Market
After the Government decides to launch India’s digital currency, the cryptocurrency market is strictly regulated. On the other hand, Reliance Retail is the first company that supports the regulation of RBI’s digital Rupee by accepting it as a mode of payment in its retail stores across the country. Reliance retail unlisted shares price also shows positive results to the retail investors. Here is how this decision of Reliance Retail will impact the Indian market:
Boosts Digital Payment Systems
The trend of digital payment in India already crosses millions of online payments daily. In between this, the decision of Reliance Retail to accept the RBI’s digital Rupee will result in a higher payment and encourage the cashless transaction on a large scale. Since Reliance is the biggest telecom service provider, it can also boost Reliance Retail IPO.
Encourage the Use of Digital Currency
With this decision of Reliance Retail, other companies will also be planning to accept the RBI’s digital Rupee as the mode of payment. In 2021, Tesla was the first global company to announce that it would accept Bitcoin as the mode of payment. However, Elon Musk frequently changed this decision, resulting in a lowered Bitcoin price. The same can happen with the Reliance Retail Shares if the company retracts this decision back in case of emergency.
Will Impact the Stock Market
The largest impact will be on the stock market on a long-term basis. Reliance Retail unlisted share price is expected to increase once they implement this decision. There is no doubt that the business model of Reliance interconnects their subsidiaries together. It will be interesting to see how reliance retail shares will perform in the coming months.
Reliance Retail is an operating retail business initiated by the Reliance Group. It follows the Direct-to-Customer (D2C) business model and has 17,000 retail stores serving millions of customers. Mukesh Ambani founded this retail business in 2006 that caters to grocery needs, electronic products, fashion & apparel, and many more. Since it is a subsidiary of Reliance Industries, the unlisted shares of Reliance Retail are available for investors.
The company also performed well in the last few years, and its customer base increased more than double. Despite COVID-19, this retail service provider managed to generate a revenue of Rs. 1,55,209 crore. Apart from this, the PAT and EBITDA of Reliance Retail were also higher than the FY2021. The current Reliance Retail unlisted share price is 2510 INR. Here is the detail of Reliance Retail’s financial performance:
| Key Indicators (FY2022) | Value in Crore |
| Total Revenue Generated | 1,74,980 |
| Profit-After-tax | 4,900 |
| EBITDA | 10,537 |
| Face Value/Share | 10.0 |
| Market Cap | 12,75,052.9 |
| Return On Equity | 16.2 per cent |
| Debt/Equity | 1.0 |
Reliance Retail unlisted share price can go up or down depending on market changes. You need to choose the platform that provides you with enough data related to the company. Stockify is a one-stop solution for retail investors to buy unlisted shares of Reliance retail and other top-performing companies that are not listed in India’s stock market. Our team regularly updates the price of shares based on market conditions. Connect with us to start investing and know the updated Reliance Retail unlisted share price.
