Govt, RBI in complete harmony on cryptocurrencies, says FM Sitharaman
- IBEF
- February 15, 2022
Ms. Nirmala Sitharam, Minister of Finance and Corporate Affairs, have said that the government and the Reserve Bank are currently discussing private cryptocurrencies and central bank-backed digital currency, and a decision will be made after further consideration. She had announced the central bank digital currency (CBDC) on February 1, 2022, and said that the RBI will be issuing it in the coming fiscal year.
She said that "I think in the last few years, you would have noticed that there is complete harmony with which we are working, respecting each other's domain also knowing what we have to do with each other's, you know, priorities and in the interest of the nation.” Mr. Shaktikanta Das Governor of the Reserve Bank of India, India's advancements in payment systems will serve as a solid foundation for making a cutting-edge central bank digital currency (CBDC) available to its residents and financial institutions.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.
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