RBI hints at digital currency pilot in retail, wholesale segments

rbi hints at digital currency pilot in retail wholesale segments

Sumary of RBI hints at digital currency pilot in retail, wholesale segments:

  • The Reserve Bank of India (RBI) has indicated the possibility of conducting pilot launch of its digital currency in wholesale and retail segments in the near future.
  • RBI Deputy Governor T Rabi Sankar said, “Generally, countries have implemented specific purpose CBDCs (central bank digital currencies) in the wholesale and retail segments.
  • Some key issues under examination are: the scope of CBDCs — whether they should be used in retail payments or also in wholesale payments — and the underlying technology — whether it should be a distributed ledger or a centralised ledger, for instance, and whether the choice of technology should vary as per use cases.
  • “However, conducting pilots in wholesale and retail segments may be a possibility in near future,” Sankar said Thursday at a webinar on virtual currencies by Vidhi Centre for Legal Policy Research.

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