In a major step away from the RBI’s stance in the past towards anything cryptocurrency-related, the report says “In its basic form, a central bank digital currency (CBDC), provides a safe, robust, and convenient alternative to physical cash. In comparison with existing forms of money, it can offer benefits to users in terms of liquidity, scalability, acceptance, ease of … [Read more...] about RBI Recommends India Implement Basic Version of CBDC
RBI
India Has No Plans to Recognize Bitcoin As Currency; RBI Working On CBDC Rollout: Reports
The Indian government does not plan to recognize bitcoin as a currency, finance minister Nirmala Sitharaman said on Monday.During a question and answer session in the parliament, Nirmala Sitharaman also said that the government does not collect data on bitcoin transactions, according to a report from local news site Mint.The Reserve Bank of India (RBI) is also working on the … [Read more...] about India Has No Plans to Recognize Bitcoin As Currency; RBI Working On CBDC Rollout: Reports
Crypto Adoption Numbers in India Could be ‘Exaggerated’, Says RBI Governor
The governor of the Reserve Bank of India (RBI) believes that the number of Indians reported to be investing in crypto could be “exaggerated.”Shaktikanta Das said he is “not so sure about the numbers which being quoted,” in an interview, which was part of financial newspaper Business Standard’s BFSI Insight Summit on Wednesday.“With a reasonable amount of confidence, I think … [Read more...] about Crypto Adoption Numbers in India Could be ‘Exaggerated’, Says RBI Governor
India CBDC pilot may commence in December, says RBI governor
The Reserve Bank of India could commence preliminary central bank digital currency (CBDC) trials before the end of the year.Speaking to CNBC on Thursday, RBI governor Shaktikanta Das said that the central bank was “being extremely careful” in its handling of a potential digital rupee even as its counterparts around the world are exploring their own sovereign digital … [Read more...] about India CBDC pilot may commence in December, says RBI governor
RBI governor “surprised” that Indian banks cited 2018 laws to block crypto users
Reserve Bank of India (RBI) governor Shaktikanta Das said this week the central bank has ‘no change’ with regards to its approach towards the crypto sector, local outlet Business Standard reported today.Crypto surpriseDas stated he was “surprised” with local banks citing a (void) circular from 2018 for denying services to crypto businesses and users. The circular was put aside … [Read more...] about RBI governor “surprised” that Indian banks cited 2018 laws to block crypto users