India’s central bank has announced that it will enable non-bank payment system operators to offer central bank digital currency (CBDC) wallets. Noting that “necessary changes will be made to the system to facilitate this,” the Reserve Bank of India (RBI) said the initiative is expected “to enhance access and expand choices available to users.” Non-Bank […]
Category: digital rupee
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India, UAE Collaborate to Boost Cross-Border Central Bank Digital Currency Transactions
India’s central bank, the Reserve Bank of India (RBI), and the Central Bank of the United Arab Emirates (UAE) have agreed to collaborate on cross-border central bank digital currency (CBDC) transactions of remittances and trade. The initiative is “expected to reduce costs, increase efficiency of cross border transactions and further the economic ties between India […]
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India’s Central Bank Digital Currency Will Act as Alternative to Cryptocurrency, Says RBI Official
An official of India’s central bank, the Reserve Bank of India (RBI), says that the country’s central bank digital currency (CBDC) will act as an alternative to cryptocurrency. He stressed that the digital rupee must possess all the attributes of physical currency, including anonymity. India’s CBDC Update Reserve Bank of India (RBI) Executive Director Ajay […]
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India’s Central Bank Reveals 50,000 Users and 5,000 Merchants Now Using Digital Rupee
India’s central bank, the Reserve Bank of India (RBI), has revealed that 50,000 users and 5,000 merchants are now using its central bank digital currency (CBDC). Digital rupee transactions are currently processed by eight banks, with five more banks set to join the pilot soon, said RBI Deputy Governor T. Rabi Sankar. Digital Rupee Now […]
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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.
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India’s Central Bank Digital Currency Should Be Able to Do Anything Cryptocurrency Can Do With No Risk, Official Claims
An Indian central bank official claims that if there is anything cryptocurrencies like bitcoin and ether can do, the Reserve Bank of India (RBI) should be able to create a product that will do the same job without the associated risks. “This is essentially what we are doing in the CBDC experiments,” he stressed. RBI […]
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RBI Begins First Retail Digital Rupee Pilot in 13 Indian Cities With 8 Banks
India’s central bank, the Reserve Bank of India (RBI), is launching its first retail digital rupee pilot on Dec. 1 with the participation of eight banks. The pilot will start in four cities and then expand to cover nine more cities across India. RBI Picks 8 Banks, 13 Cities to Test Retail Digital Currency The […]
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India’s Central Bank RBI Publishes Digital Currency Details — Confirms Digital Rupee Pilot Launching ‘Soon’
India’s central bank, the Reserve Bank of India (RBI), says it will soon commence “limited pilot launches” of the country’s digital currency (digital rupee) for specific use cases. The central bank explained that “multiple technological options shall be tested and based on the outcomes, the final architecture shall be decided.” RBI Prepares to Launch Digital […]
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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.
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India’s Central Bank RBI Starts Digital Currency Pilot With 4 Banks: Report
India’s central bank, the Reserve Bank of India (RBI), has reportedly asked four banks to pilot the country’s central bank digital currency (CBDC) ahead of its public launch. RBI to Pilot India’s CBDC With Public-Sector Banks The Reserve Bank of India (RBI), the country’s central bank, has reportedly asked four public-sector banks to trial India’s […]
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