RBI planning to launch Central Bank Digital Currency

Prime News, National, Banking, Finance, New Delhi, July 23:- The Reserve Bank of India (RBI) is planning to launch the Central Bank Digital Currency (CBDC) in the near future.

Deputy Governor T Rabi Shankar said “the 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.”

He was speaking at a webinar organised by the Vidhi Centre for Legal Policy, New Delhi.

A high level Inter-Ministerial Committee constituted by the Ministry of Finance in November 2017 to examine the policy and legal framework for regulation of virtual currencies had recommended the introduction of CBDC. (Inputs: Agencies, NGB)

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