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Reserve Bank of India Plans To Launch Pilot For Digital Rupee
Summary: The Reserve Bank of India (RBI) announced on Friday that it will be launching pilot tests for its digital rupee. RBI has also released a concept note for the digital rupee, which talks about the features of the digital currency, including its technology and design, potential use cases for it, issuance mechanisms, and many more. ...
The Reserve Bank of India (RBI) announced on Friday that it will be launching pilot tests for its digital rupee.
RBI has also released a concept note for the digital rupee, which talks about the features of the digital currency, including its technology and design, potential use cases for it, issuance mechanisms, and many more. It also talks about the impacts of the digital currency on the banking system, monetary policy, financial stability, and privacy issues.
“[The digital rupee will] lead to a more efficient and cheaper currency management system. It is therefore proposed to introduce the digital rupee using blockchain and other technology to be issued by the Reserve Bank of India,” said Sitharaman in her 2022-23 budget speech earlier this year.
Author: Katie Lin
Tags: Reserve Bank Of India,rupee
Link: Reserve Bank of India Plans To Launch Pilot For Digital Rupee [Copy]
