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You are at:Home » RBI exploring possibilities of Central Bank Digital Currency (CBDC)
Policy & Regulation

RBI exploring possibilities of Central Bank Digital Currency (CBDC)

The Reserve Bank of India (RBI) is exploring the possibility as to whether there is a need for CBDC, a digital version of fiat currency, and in case there is, then how to operationalize it.
AlexaBlockchainBy AlexaBlockchainJanuary 29, 2021Updated:November 14, 2022No Comments1 Min Read
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RBI exploring possibilities of Central Bank Digital Currency (CBDC)
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On January 25, 2021, the Reserve Bank of India (RBI) published a Booklet on “Payment and Settlement Systems in India” covering the progress of Payment and Settlement Systems in India during 2010 to 2020. The document confirms that it’s exploring a central bank digital currency (CBDC).

“RBI is exploring the possibility as to whether there is a need for a digital version of fiat currency and in case there is, then how to operationalise it,” it says. India’s central bank has shown its interest in CBDC, however it has expressed skepticism about cryptocurrencies and private digital currencies.

Read Also: The Reserve Bank Of India Planning Stakeholder Consultation On CBDC

Blockchain in Banking Blockchain in Government Blockchain in Payment Blockchain Regulatory Developments CBDC Digital Assets Digital Currency India Reserve Bank Of India (RBI)
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