Discussions on with RBI over digital currency, says Finance Minister Sitharaman
2 years, 10 months ago

Discussions on with RBI over digital currency, says Finance Minister Sitharaman

India TV News  

Highlights FM said discussions with regard to central bank-backed digital currency have been going on with RBI. Finance Minister Nirmala Sitharaman on Monday said discussions with regard to central bank-backed digital currency have been going on with the Reserve Bank and a decision will be taken after due deliberations. Sitharaman in her Budget speech on February 1 had announced that Digital Rupee or Central Bank Digital Currency would be issued by the RBI in the coming fiscal year. Last week, Das had said the central bank does not want to rush and is carefully examining all aspects before introduction of the CBDC.The Trend and Progress of Banking in India report, released by the RBI in December last year, had said that given the CBDC's dynamic impact on macroeconomic policy making, it is necessary to adopt basic models initially, and test comprehensively so that it has minimal impact on monetary policy and the banking system.

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