India is considering a phased roll-out of a central bank digital currency

india is considering a phased roll out of a central bank digital currency

Sumary of India is considering a phased roll-out of a central bank digital currency:

  • The Reserve Bank of India on Thursday said it is considering a “phased” rollout of a central bank digital currency.
  • The Reserve Bank of India on Thursday said it is considering a “phased” rollout of a central bank digital currency.
  • “Central banks have increased their attention on digital currencies,” Sankar said.
  • A CBDC is a type of central bank liability issued in digital form, which could be used by the general public.
  • In the US, Federal Reserve Jerome Powell questioned the necessity of cryptocurrencies once the Fed rolls out its own CBDC.
  • Powell in May revealed that the central bank has taken further steps in exploring a digital currency and will be releasing a discussion paper this summer outlining its thinking on digital payments.

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