Express
India Explores Possibility of a CBDC Launch
Summary: The Reserve Bank of India (RBI) released a booklet named ‘Payment and Settlement Systems in India’ on Monday, “Entities are being encouraged to develop offline payment solutions, and a pilot scheme in this regard was rolled out in August 2020. The pilot scheme is being undertaken till March 31, 2021, and based on experience gained, ...
The Reserve Bank of India (RBI) released a booklet named ‘Payment and Settlement Systems in India’ on Monday, “Entities are being encouraged to develop offline payment solutions, and a pilot scheme in this regard was rolled out in August 2020. The pilot scheme is being undertaken till March 31, 2021, and based on experience gained, a decision will be taken on roll-out of the scheme,”
Additionally, the monetary regulator made it clear that it is skeptical of digital currencies, especially because of the associated risks with them.
Though the central bank had banned banking services to crypto companies earlier, a Supreme court ruling overturned it last year.
