indian central bank – DIGIT INFO

India’s Digital Rupee Surpasses 5 Million Users, RBI Discloses

DIGIT — Thu, 01 Aug 2024 11:20:00 +0000

India’s central bank, the Reserve Bank of India (RBI), has revealed that as of June, there were five million digital rupee users and 420,000 merchants participating in the retail central bank digital currency (CBDC) pilot. The RBI emphasized that the digital rupee is designed to complement cash and existing payment systems, serving both wholesale and […]

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Indian Central Bank Chief Insists Crypto Should Be Banned — Warns ‘It Will Undermine Authority of RBI’

DIGIT — Mon, 16 Jan 2023 04:30:24 +0000

India’s central bank has reiterated its stance on banning cryptocurrencies like bitcoin and ether. The governor of the Reserve Bank of India (RBI) likened cryptocurrency trading to gambling. He warned that crypto “will undermine the authority of the RBI and lead to the dollarization of the economy.” RBI’s Governor Wants Crypto Banned The governor of […]

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RBI Begins First Retail Digital Rupee Pilot in 13 Indian Cities With 8 Banks

DIGIT — Wed, 30 Nov 2022 05:00:25 +0000

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’

DIGIT — Sun, 09 Oct 2022 04:00:02 +0000

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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Indian Finance Minister: Crypto Ban, Regulation Effective Only With Significant International Collaboration

DIGIT — Tue, 19 Jul 2022 13:00:01 +0000

India’s finance minister has informed parliament that the central bank, the Reserve Bank of India (RBI), wants cryptocurrencies to be prohibited. However, she noted that “any legislation for regulation or for banning can be effective only after significant international collaboration.” Indian Finance Minister on Crypto Ban and Regulation Indian Finance Minister Nirmala Sitharaman answered some […]

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Indian Central Bank RBI: Cryptocurrencies Are a Clear Danger — Financial Stability Risks Likely to Grow

DIGIT — Mon, 04 Jul 2022 03:00:39 +0000

India’s central bank, the Reserve Bank of India (RBI), sees cryptocurrencies as “a clear danger.” However, the financial stability risks posed by crypto assets currently appear to be “limited.” RBI on Crypto’s Danger and Financial Stability Risks The Reserve Bank of India (RBI) released the 25th issue of its Financial Stability Report (FSR) Thursday. RBI […]

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RBI Official: Central Bank Digital Currencies Could Kill Cryptocurrencies

DIGIT — Sat, 04 Jun 2022 03:30:53 +0000

Reserve Bank of India (RBI) Deputy Governor T. Rabi Sankar says central bank digital currencies could “kill whatever little case there could be” for cryptocurrencies, like bitcoin and ether. RBI’s Deputy Governor Discusses Impact of CBDCs on Cryptocurrencies RBI Deputy Governor T. Rabi Sankar talked about the potential impact of central bank digital currencies (CBDCs) […]

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India’s Digital Currency to Take ‘Very Calibrated, Graduated’ Approach, Says RBI Deputy Governor

DIGIT — Sat, 09 Apr 2022 03:30:16 +0000

Reserve Bank of India (RBI) Deputy Governor T. Rabi Sankar has outlined the implications of India issuing a central bank digital currency, the digital rupee. ”I think central banks would go about it in a very calibrated, graduated manner, assessing impact all along the line,” he explained. RBI’s Deputy Governor Discusses Indian Central Bank Digital […]

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RBI Deputy Governor: Banning Crypto Is ‘Most Advisable’ for India, Regulation Is ‘Futile’

DIGIT — Tue, 15 Feb 2022 16:30:14 +0000

A deputy governor of India’s central bank, the Reserve Bank of India (RBI), likens cryptocurrencies to Ponzi schemes, emphasizing that they cannot be regulated. “It would be futile to regulate cryptocurrencies,” he claims, stating that they should be banned. RBI’s Deputy Governor Sees Crypto Ban as ‘the Most Advisable Choice Open to India’ A deputy […]

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India Announces Upcoming Launch of Central Bank Digital Currency, Digital Rupee, to Be Issued by RBI

DIGIT — Wed, 02 Feb 2022 04:30:06 +0000

The Indian government has announced the upcoming launch of the country’s central bank digital currency. The digital rupee will be issued by the Reserve Bank of India (RBI) in the financial year 2022-23, Indian Finance Minister Nirmala Sitharaman said during her budget speech. RBI’s Digital Currency, the Digital Rupee, Coming Soon India’s finance minister, Nirmala […]

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