Indian Economy News

Digital currency to be launched as pilot project this year: RBI Deputy Governor

  • IBEF
  • September 8, 2022

The Reserve Bank of India (RBI) will introduce its digital currency as a pilot project in 2022, said Reserve Bank of India (RBI) Deputy Governor, Mr. T. Rabi Sankar.

Central Bank Digital Currency (CBDC) is the most effective solution for cross-border payments, said Mr. Sankar while speaking at the India Ideas Summit.

RBI is also attempting to adjust its policy regarding digital payments in response to feedback from stakeholders. At the same time, the RBI is working to protect data privacy in the context of digital infrastructure.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.