Yes Bank’s app UPI integration is the first for the Indian retail CBDC, which has seen a variety of projects since its pilot launch since December.
Category: RBI
Auto Added by WPeMatico
India proposes AI-powered conversational payments system: RBI
India’s central bank said that there’s a potential for an AI system that would initiate transactions through a conversation.
RBI lists risks of stablecoin for developing economies, calls for global regulation
The Reserve Bank of India listed six specific ways stablecoin can undermine emerging markets, adding to its mounting case against crypto.
Powered by WPeMatico
G20 Finance Chiefs Agree Global Policy Responses to Crypto Are Required
The G20 finance ministers and central bank governors have agreed that crypto regulation cannot be confined to one part of the world, said India’s finance minister. “Any action on crypto assets will have to be global,” she stressed, adding that the G20 finance chiefs’ discussion on crypto was “very substantive.” G20 Finance Chiefs on Crypto […]
Powered by WPeMatico
Indian Central Bank Chief: US Banking Crisis Clearly Shows Risks Crypto Poses to the Financial System
The governor of India’s central bank, the Reserve Bank of India (RBI), says the “ongoing U.S. banking crisis” clearly demonstrates the risks cryptocurrency poses to the financial system. The central bank chief added that the “Indian economy remains resilient,” emphasizing that the “worst of inflation is behind us.” India’s Central Bank Governor on Crypto Risks […]
Powered by WPeMatico
India, UAE to explore CBDC bridge to facilitate trade, remittances without USD
The bridge would be the second for the UAE, whose banks successfully participated in the mBridge project last year with Hong Kong, China and Thailand.
Powered by WPeMatico
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 […]
Powered by WPeMatico
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 […]
Powered by WPeMatico
G20 Finance Chiefs Widely Recognize Crypto Poses Major Financial Stability Risks, Says Indian Central Bank Governor
The G20 finance ministers and central bank governors recognize that cryptocurrencies pose major risks to financial stability, monetary systems, and cyber security, India’s central bank governor reportedly said. Crypto regulation was among the key topics discussed during the G20 meeting over the weekend. G20 Agrees Crypto Poses Major Risks to Financial Stability, Says RBI Governor […]
Powered by WPeMatico
Nothing Outlaws Crypto in India if Legal Procedures Are Followed, Says Government Official
An Indian government official says that there is currently nothing that outlaws crypto in India “as long as you follow the legal process.” Meanwhile, the country’s central bank, the Reserve Bank of India (RBI), has stressed that “cryptocurrency does not have any underlying value.” Indian Government Official on Crypto Indian government official Rajeev Chandrasekhar talked […]
Powered by WPeMatico