Reserve Bank of India 'exploring the possibility' of a digital currency
The bank still claimed that government bodies and regulators in India are both “skeptical” and “apprehensive” about crypto. Less than a year after the Indian supreme court overturned the Reserve Bank of India’s ban on crypto businesses, and the bank’s position on digital assets is looking slightly more bullish.According to a booklet on payments released today by the Reserve Bank of India, or RBI, the bank is “exploring the possibility as to whether there is a need for a digital version of fiat currency.” The bank added that if it found a need, it would look into ways to put digital....
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The Indian government is exploring “several commercial use purposes and not just financial inclusion” for its central bank digital currency. India’s finance minister clarified that the aim is for the digital rupee, which will be backed by the Reserve Bank of India (RBI), to be issued by 2023. India’s Finance Minister on RBI-Backed Digital Currency Indian Finance Minister Nirmala Sitharaman talked about the country’s central bank digital currency (CBDC), the digital rupee, this week at a business roundtable on “Investing in India’s Digital....
India’s central bank, the Reserve Bank of India (RBI), has proposed to adopt a “graded approach” to launching the country’s central bank digital currency (CBDC). The RBI also said it is exploring the pros and cons of introducing a digital rupee in India. RBI on the Upcoming Digital Rupee Launch The Reserve Bank of India released its annual report for 2021-22 Friday. India’s central bank digital currency (CBDC) is among the many topics discussed in the report. “The design of CBDC needs to be in conformity monetary policy, financial stability and....
India’s central bank, the Reserve Bank of India (RBI), has published a booklet with a section about cryptocurrency and the digital rupee. The central bank acknowledged that cryptocurrencies have gained popularity in recent years and confirmed that it is exploring the need for a central bank digital currency. RBI Says Crypto Has Gained Popularity, Exploring Digital Rupee India’s central bank published a “Booklet on Payment Systems” on Monday with a section on central bank digital currencies (CBDCs). The document covers “the journey of payment and settlement....
India’s central bank, the Reserve Bank of India (RBI), is working on a “phased implementation of a central bank digital currency (CBDC) in both wholesale and retail segments.” Necessary amendments have been made to the RBI Act, 1934 to allow the central bank to pilot and issue a digital currency.
India’s Central Bank Digital Currency to Be Implemented in Phases
A Reserve Bank of India (RBI) official and the minister of state in the Ministry of Finance have independently provided an update on the central bank’s progress in issuing a....
India’s Central Bank, the Reserve Bank of India, is soon to commence the launch of its CBDC, which is the Central Bank Digital Currency aimed at specific use cases. The Reserve Bank of India has stated that there could be “multiple technological options which shall be tested and, based on the outcomes, the final architecture […]