3 years, 1 month ago

How will digital rupee be different from rupee notes?

India’s central bank governor Shaktikanta Das has said there will be no “Jaldbaazee", or haste, on the part of the Reserve Bank of India in rolling out its own digital currency. So, it makes sense for the RBI not to rush headlong into implementing the budget announcement of the introduction of a central bank digital currency by 2023. The boom in digital payments and transactions in India on the back of a global class payments system and infrastructure built over the past few years may have encouraged the government and the RBI to move on the Central Bank Digital Currency or CBDC front. In the future, RBI and other central banks will continue to provide physical currency alongside a digital rupee.

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