CENTRAL BANK DIGITAL CURRENCY (CBDC)

July 26, 2021

Reserve bank of India is planning to launch Central Bank Digital Currency (CBDC) in the near future.

About:

RBI is currently working towards a phased implementation strategy and examining use cases which could be implemented with little or no disruption. Conducting pilots in wholesale and retail segments may be a possibility in near future.
High Level Inter-Ministerial Committee constituted by Ministry of Finance in November 2017 to examine the policy and legal framework for regulation of virtual currencies had recommended the introduction of CBDC.

Source : All India Radio

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