India's digital currency to debut by early 2023: Government source
India TV NewsIndia's very own official digital currency is likely to debut by early 2023, which will mirror any of the currently available private company-operated electronic wallets, but with a change that it will be a sovereign-backed facility, a top government source said. A top government source, who wished not to be identified said, the digital currency issued by the RBI would be numbered in units, just like every fiat currency has an unique number. The digital rupee blockchain, being developed by the Reserve Bank, would be able to trace all transactions, unlike the current system of mobile wallet offered by private companies. In the 2022-23 Budget, Finance Minister Nirmala Sitharaman had said that introduction of Central Bank Digital Currency will give a big boost to digital economy.