India’s central bank is taking a very cautious approach in developing its digital rupee, a senior official familiar with India’s central bank digital currency (CBDC) pilot programs told CoinDesk, though it’s making some progress.
India’s Digital Rupee Crossed a Million Transactions in 1 Day With Some Help From Banks
CoinDesk has viewed a letter dated Dec. 29 by the Reserve Bank of India (RBI) Governor Shaktikanta Das to staff that said the usage of the e-rupee (CBDC) “exceeded the milestone of 1 million transactions in a day on Dec. 27, 2023.” A separate letter from one of the banks participating in the e-rupee pilot said it had been encouraged it to deposit employee funds and benefits using the CBDC, rather than use the existing fiat currency.
India’s Central Bank Seeking Privacy Legislation for Retail CBDC Users
India’s central bank is advocating for legislation that will allow users of its retail central bank digital currency (CBDC) to delete any transactions in order to maintain anonymity.
Crypto could spark the next financial crisis, says India’s RBI head
Reserve Bank of India Governor Shaktikanta Das warned that if crypto becomes regulated and is allowed to grow, it could cause the next financial meltdown.
India’s central bank outlines digital rupee CBDC plans
India’s Reserve Bank outlined the pros and cons of a digital rupee as it looks to raise awareness around its CBDC project.
India CBDC pilot may commence in December, says RBI governor
India’s central bank is carefully considering the merits of issuing a digital rupee as CBDC exploration continues to gather steam across the globe.