- The Reserve Bank of India (RBI) said that it will shortly start restricted test launches of the digital rupee for particular use cases.
- The concept paper was made public as part of an experiment with digital money in India.
- The Reserve Bank of India (RBI) is currently developing a phased deployment plan while investigating the advantages and disadvantages of a central bank digital currency.
- The concept note also covers important issues such technology and design options, potential applications for the digital rupee, and issuance procedures.
- The Reserve Bank of India (RBI) concept note also analyses privacy problems and looks at how the adoption of CBDC may affect the banking sector, monetary policy, and financial stability.
- The central bank stated that both retail and wholesale digital currency have appeal, suggesting that it may take both into consideration.
Tags:
Economics
