Shaktikanta Das – DIGIT INFO

India preparing for a CBDC-driven economy — Central bank governor

DIGIT — Wed, 11 Dec 2024 08:31:17 +0000

Outgoing Reserve Bank of India Governor Shaktikanta Das envisions the digital rupee revolutionizing India’s economy, emphasizing gradual CBDC adoption.

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JPMorgan Executive Sees Big Future for India’s CBDC Initiative

DIGIT — Fri, 30 Aug 2024 06:30:17 +0000

Naveen Mallela, global co-head of Onyx, JPMorgan’s blockchain and digital currency unit, highlighted the rapid adoption of blockchain technology in India, particularly after the 2022 launch of the central bank digital currency (CBDC), the e-rupee. He noted that CBDCs represent a significant advancement for Indian payments, positioning them as the next step in the evolution […]

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India mulls cross-border CBDC interoperability system

DIGIT — Wed, 28 Aug 2024 08:03:16 +0000

RBI Governor Shaktikanta Das advocates a plug-and-play system to enhance cross-border payment efficiency and CBDC interoperability.

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RBI Governor Warns Against Rapid CBDC Launch, Advocates Gradual Approach

DIGIT — Tue, 27 Aug 2024 00:30:06 +0000

The governor of India’s central bank, the Reserve Bank of India (RBI), Shaktikanta Das, has highlighted the challenges of implementing cross-border digital currency interoperability and the necessity for robust governance. He emphasized the importance of gradual central bank digital currency (CBDC) rollout and data-driven insights from pilot programs. RBI Governor Warns of Challenges in Digital […]

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Indian Central Bank RBI Warns Retail Investors of Crypto’s Lack of Accountability and Stability

DIGIT — Thu, 23 May 2024 23:11:13 +0000

The Reserve Bank of India (RBI)’s May 2024 bulletin warns retail investors that “the crypto ecosystem lacks accountability and stability and is marked by regulatory ambiguity.” The Indian central bank also cautioned that some cryptocurrency systems may be “prone to crisis without safeguards.” RBI Bulletin’s Crypto and Defi Warnings India’s central bank, the Reserve Bank […]

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India’s Central Bank Chief: Cryptocurrencies Will Cause Next Financial Crisis if They’re Not Banned

DIGIT — Fri, 23 Dec 2022 04:00:12 +0000

The governor of India’s central bank, the Reserve Bank of India (RBI), has warned that the next financial crisis will come from cryptocurrencies, like bitcoin and ether. The central bank chief added that cryptocurrencies pose “huge inherent risks” to India’s macroeconomic and financial stability. Indian Central Bank Warns About Crypto Causing the Next Financial Crisis […]

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Reserve Bank of India Is Working on ‘Phased Implementation’ of Central Bank Digital Currency

DIGIT — Thu, 21 Jul 2022 13:00:02 +0000

India’s central bank, the Reserve Bank of India (RBI), is working on a “phased implementation of a central bank digital currency (CBDC) in both wholesale and retail segments.” Necessary amendments have been made to the RBI Act, 1934 to allow the central bank to pilot and issue a digital currency. India’s Central Bank Digital Currency […]

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Indian Government’s Chief Economic Adviser Warns of Danger in Crypto, Defi Without Regulation

DIGIT — Sun, 12 Jun 2022 04:00:11 +0000

The Indian government’s chief economic adviser has warned about innovations like crypto and decentralized finance (defi) in the absence of regulation. “We may not be fully aware or comprehend the kind of forces we are unleashing ourselves,” he opined. Indian Government’s Chief Economic Adviser Skeptical of Crypto, Defi, Decentralization The Indian government’s chief economic adviser […]

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India’s Central Bank Governor Warns About Crypto After Collapse of Terra LUNA, UST

DIGIT — Tue, 24 May 2022 03:50:49 +0000

India’s central bank, the Reserve Bank of India (RBI), has warned about investing in the crypto market following the collapse of cryptocurrency terra (LUNA) and stablecoin terrausd (UST). “We have been cautioning against crypto and look at what has happened to the crypto market now,” said Governor Shaktikanta Das. RBI’s Governor on Crypto Market and […]

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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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