05-27-2022, 02:24 PM
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Full Details - India RBI Digital Currency
RBI to Adopt Graded Approach to Launch Digital Currency in India. Check Detailed Plan Here
 In the annual report, the RBI said it has been exploring the pros and cons of introduction of CBDC and added that the appropriate design elements of CBDCs that could be implemented with little, or no disruption are under examination.
The Reserve Bank of India (RBI) on Friday said that it is proposing to adopt a graded approach for launching central bank digital currency (CBDC) in the country to ensure conformity objectives of monetary policy, financial stability and efficient operations of currency and payment systems
“The Reserve Bank of India proposes to adopt a graded approach to introduction of CBDC, going step by step through stages of Proof of Concept 12, pilots and the launch,” the central bank said in its annual report
The RBI also said in the annual report that it has been exploring the pros and cons of introduction of CBDC in India and the appropriate design elements of CBDCs that could be implemented with little, or no disruption are under examination
“The Reserve Bank is engaged in the introduction of a central bank digital currency (CBDC) in India. The design of CBDC needs to be in conformity with the stated objectives of monetary policy, financial stability and efficient operations of currency and payment systems,” RBI added.
The RBI said the design of the Central Bank Digital Currency needed to be in line with the objectives of its monetary policy, financial stability and efficient operations of currency and payment systems.
The statement from the RBI came months after it said it was in a position to start off with testing and running pilot projects of the CBDC.
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Full Details here
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In the annual report, the RBI said it has been exploring the pros and cons of introduction of CBDC and added that the appropriate design elements of CBDCs that could be implemented with little, or no disruption are under examination.
