What Do We Know About India’s CBDC And Its Graded Approach?

Halfway through 2022, at the proof of concept stage, RBI is in the process of verifying the feasibility and functionality of launching a CBDC. Further cementing India’s decision to introduce an in-house central bank digital currency (CBDC) in 2022-23, the Reserve Bank of India (RBI) proposed a three-step graded approach for rolling out CBDC “with little or no disruption” to the traditional financial system.In February, while discussing the budget for 2022, Indian finance minister Nirmala Sitharaman spoke about the launch of a digital rupee to provide a “big boost” to the digital economy.....

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 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....

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 […]

India's Reserve Bank outlined the pros and cons of a digital rupee as it looks to raise awareness around its CBDC project. The Reserve Bank of India (RBI) has outlined the proposed features and reasoning behind its in-development central bank digital currency (CBDC) in a 51-page note published on Oct. 7.The country’s central bank is looking to raise awareness of CBDCs, which are being developed by a number of central banks around the world, and to clearly define the objectives and choices as well as the potential positive and negative elements of introducing a digital rupee in India.The....