India presses ahead with CBDC pilot run on wholesale business
The adoption of CBDCs in India will be conducted in phases on FY 2022-2023, beginning with wholesale businesses, as the Reserve Bank of India mulls the digital rupees' anonymity level.
Latest Reserve Bank of India News
Kumaraguru Ramanujam: Using Bitcoin SV to send money across borders
Kumaraguru Ramanujam’s application, MoneySwipe, aims to bring down fees for sending money abroad from the current global average of 7% to just 1.5%.
Reserve Bank of India approves firm to deploy blockchain solution for cross-border payments
Open Financial Technologies, an India-based neo-banking startup, is set to deploy its blockchain-based cross-border transaction monitoring solution after its approval by the Reserve Bank of India.
Reserve Bank of India: Phased retail and wholesale CBDC implementation still in the works
Ajay Kumar Choudhary stated that the RBI would leverage the Union Budget 2022-23 that gives legal backing to the CBDC to implement it in a phased manner for wholesale and retail segments.
India finance minister: Digital assets policy needs international collaboration to be effective
The finance ministry does not support RBI's plan to ban digital assets because a decision to ban them will only be effective if there is international collaboration due to their borderless nature.
RBI: Chances of India’s ‘cryptoisation’ limited but still need close monitoring
The Reserve Bank of India states that digital assets don't pose a significant risk because the market is relatively small, but it thinks that as the ecosystems they support grow, their risks are likely to increase.
RBI collaborating with top banks for blockchain-based trade financing pilot project
Top banks currently involved in the pilot include HDFC Bank, ICICI Bank, and State Bank of India (SBI). Axis Bank, Bank of Baroda, and Union Bank of India.
Reserve Bank of India deputy gov confirms 2023 launch for CBDC
T. Rabi Sankar's statement echoes the RBI's revelation in its annual report released earlier this month, where it said it would follow a "graded approach" to introduce the digital rupee.
Reserve Bank of India deputy gov tells IMF: CBDCs can kill digital currencies
Speaking at a webinar series organized by the IMF, RBI Deputy Governor T. Rabi Sankar stated that the Indian central bank believes CBDCs could kill private digital currencies.
Reserve Bank of India lists CBDC introduction as one of major initiatives for 2022-23
In its annual report published recently, the Reserve Bank of India proposed a three-stage "graded approach" to introduce a central bank digital currency, including proof-of-concept, pilot, and launch.
India: central bank governor maintains stance, says digital currencies have no value
Reserve Bank of India Governor Shaktikanta Das reminded that before the market crash, the RBI had been warning of the risks involved in investing in digital currencies, according to local reports.
Reserve Bank of India warns digital currencies will ‘dollarize’ economy
The central bank says that digital currencies will seriously undermine its ability to determine monetary policy and contribute to money laundering and terrorism funding.