• India considering phased roll out of central bank digital currency

    4 days ago - By Tech Crunch

    India's central bank is considering launching a digital currency, according to a top executive, giving a clear indication of its intentions for the first time after previously stating that it was studying the idea.
    T Rabi Sankar, the deputy governor of Reserve Bank of India, said at a conference today that the central bank is considering introducing the nation's digital currency in a “phased” manner while legal changes are made to the South Asian nation's foreign-exchange rules and IT laws.
    The digital currency, which will be backed by sovereign, will lower the economy's reliance on cash...
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  • India is considering a phased roll-out of a central bank digital currency

    India is considering a phased roll-out of a central bank digital currency

    4 days ago - By Business Insider

    Summary List Placement The Reserve Bank of India on Thursday said it is considering a "phased" rollout of a central bank digital currency.
    Deputy Governor T. Rabi Sankar during a speech said politicians are eyeing a CBDC to protect citizens from the volatility of cryptocurrencies, Bloomberg first reported.
    A digital currency, he said, will also decrease cash usage in India's economy, especially as more consumers adopted offerings like contactless payments during the pandemic.
    "Central banks have increased their attention on digital currencies," Sankar said.
    A CBDC is a type of central bank...
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  • India is considering a phased roll-out of a central bank digital currency

    4 days ago - By Business Insider

    Reserve Bank of India in Mumbai, India.
    AP Photo/Rafiq Maqbool
    The Reserve Bank of India on Thursday said it is considering a "phased" rollout of a central bank digital currency.
    Deputy Governor T. Rabi Sankar said a CBDC will protect citizens from the volatility of cryptocurrencies, Bloomberg reported.
    But Sankar added that a launch will need to overcome some legal hurdles first.
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    The Reserve Bank of India on Thursday said it is considering a "phased" rollout of a central bank digital currency. Deputy Governor T. Rabi...
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