India CBDC pilot may commence in December, says RBI governor
India’s central bank is carefully considering the merits of issuing a digital rupee as CBDC exploration continues to gather steam across the globe. The Reserve Bank of India could commence preliminary central bank digital currency (CBDC) trials before the end of the year.Speaking to CNBC on Thursday, RBI governor Shaktikanta Das said that the central bank was “being extremely careful” in its handling of a potential digital rupee even as its counterparts around the world are exploring their own sovereign digital currencies.According to Das, the RBI’s focus is on examining the potential....
Related News
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 […]
The Bank of Jamaica is getting ready to begin testing its planned central bank digital currency in collaboration with financial institutions in the country. Jamaica’s central bank will reportedly commence the initial roll-out of its central bank digital currency (CBDC) project in August.According to a report by the Jamaica Observer on Wednesday, Bank of Jamaica (BOJ) Governor Richard Byles made this known during a Rotary Club event earlier in July.Detailing plans to begin the pilot phase in August, Byles revealed that the BOJ was currently working on the technical aspects of the CBDC....
Despite the pilot, the central bank's deputy governor said he was apprehensive about launching a full-scale CBDC in Israel, and referred to Bitcoin as a "pyramid scam." The Bank of Israel has reportedly already issued a central bank digital currency through a pilot test of a digital shekel.According to a Monday report from the Jerusalem Post, Bank of Israel deputy governor, Andrew Abir, said the financial institution had started to conduct a pilot program for a digital shekel. Speaking at a conference of the Fair Value Forum of IDC Herzliya, Abir added that he was not optimistic about the....
The Bank of Jamaica plans to issue a total of $1.5 million of CBDC to institutions and authorized payment service providers as part of a pilot ending this December. Jamaica is aggressively progressing with the country’s central bank digital currency (CBDC) as the Bank of Jamaica, or BOJ, has minted the country’s first batch of CBDC.The BOJ officially announced that its dedicated CBDC division demonstrated the process of minting digital currency at a financial ceremony on Monday.The issuing process for a digital version of the Jamaican dollar (JMD) was carried out with participation from....
India’s central bank, the Reserve Bank of India (RBI), has reportedly asked four banks to pilot the country’s central bank digital currency (CBDC) ahead of its public launch.
RBI to Pilot India’s CBDC With Public-Sector Banks
The Reserve Bank of India (RBI), the country’s central bank, has reportedly asked four public-sector banks to trial India’s central bank digital currency (CBDC), Moneycontrol reported Monday, citing two unnamed bank officials.
One of the officials was quoted as saying:
The RBI has asked State Bank of India,....