India’s Central Bank Digital Currency Should Be Able to Do Anything Cryptocurrency Can Do With No Risk, Official Claims
An Indian central bank official claims that if there is anything cryptocurrencies like bitcoin and ether can do, the Reserve Bank of India (RBI) should be able to create a product that will do the same job without the associated risks. “This is essentially what we are doing in the CBDC experiments,” he stressed. RBI […]
RBI Begins First Retail Digital Rupee Pilot in 13 Indian Cities With 8 Banks
India’s central bank, the Reserve Bank of India (RBI), is launching its first retail digital rupee pilot on Dec. 1 with the participation of eight banks. The pilot will start in four cities and then expand to cover nine more cities across India. RBI Picks 8 Banks, 13 Cities to Test Retail Digital Currency The […]
Indian Central Bank RBI Begins First Digital Rupee Pilot Today
India’s central bank, the Reserve Bank of India (RBI), is launching its first digital rupee pilot on Nov. 1. with the participation of nine banks. “Settlement in central bank money would reduce transaction costs by pre-empting the need for settlement guarantee infrastructure or for collateral to mitigate settlement risk,” said the central bank. RBI’s First […]
Reserve Bank of India Is Working on ‘Phased Implementation’ of Central Bank Digital Currency
India’s central bank, the Reserve Bank of India (RBI), is working on a “phased implementation of a central bank digital currency (CBDC) in both wholesale and retail segments.” Necessary amendments have been made to the RBI Act, 1934 to allow the central bank to pilot and issue a digital currency. India’s Central Bank Digital Currency […]
India’s Central Bank RBI to Adopt a ‘Graded Approach’ to Digital Currency Launch
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 […]