Friday, 24 March, 2023

RBI Plans Phased Central Bank Digital Currency Launch

<p>To introduce its digital currency, the Reserve Bank of India (RBI) is considering a phased rollout method (CBDC). This point was stated in a concept note on CBDC written by the fintech division of the RBI. In her budget statement, Finance Minister Nirmala Sitharaman stated that the CBDC will be introduced within the current fiscal year. The RBI paper said that comprehensive planning is required in terms of scope, budget, and timing to guarantee the timely rollout of CDBC.</p>