Search Results for: launch a digital rupee

RBI Begins First Retail Digital Rupee Pilot in 13 Indian Cities With 8 Banks

by

India’s central bank, the Reserve Bank of India (RBI), is launching its first retail digital rupee pilot on Dec. 1 with the participation of eight banks. The pilot will start in four cities and then expand to cover nine more cities…

Indian Central Bank RBI Begins First Digital Rupee Pilot Today

by

India’s central bank, the Reserve Bank of India (RBI), is launching its first digital rupee pilot on Nov. 1. with the participation of nine banks. “Settlement in central bank money would reduce transaction costs by pre-empting the need for settlement guarantee…

Nepal Prepares to Issue Digital Currency, Drafts Necessary Amendments

by

A task force in Nepal has proposed legal changes allowing the country’s central bank to issue its own digital currency. The move comes after a study indicated that such an initiative is feasible and recommended certain provisions that would authorize the…

India’s Central Bank RBI to Adopt a ‘Graded Approach’ to Digital Currency Launch

by

India’s central bank, the Reserve Bank of India (RBI), has proposed to adopt a “graded approach” to launching the country’s central bank digital currency (CBDC). The RBI also said it is exploring the pros and cons of introducing a digital rupee…

India Exploring Commercial Uses for Central Bank Digital Currency, Says Finance Minister

by

The Indian government is exploring “several commercial use purposes and not just financial inclusion” for its central bank digital currency. India’s finance minister clarified that the aim is for the digital rupee, which will be backed by the Reserve Bank of…

India’s Digital Currency to Take ‘Very Calibrated, Graduated’ Approach, Says RBI Deputy Governor

by

Reserve Bank of India (RBI) Deputy Governor T. Rabi Sankar has outlined the implications of India issuing a central bank digital currency, the digital rupee. ”I think central banks would go about it in a very calibrated, graduated manner, assessing impact…

India’s Prime Minister Modi: Digital Rupee Will Strengthen Digital Economy, Revolutionize Fintech

by

India’s prime minister, Narendra Modi, says an Indian central bank digital currency will strengthen the digital economy. The digital rupee will also revolutionize the fintech sector by creating new opportunities and lessening the burden of handling, printing, and the logistics of…

India’s Central Bank RBI Discusses Digital Currency and CBDC Launch With Minimal Impact on Monetary Policy

by

India’s central bank, the Reserve Bank of India (RBI), says a basic central bank digital currency (CBDC) model must be adopted initially and tested comprehensively to minimize the impact on the country’s monetary policy and banking system. The Indian apex bank…

Indian Government Answers Questions on Bitcoin Transactions, Karnataka Scam, Legality of Crypto Trading

by

The Indian government has answered three sets of questions in parliament regarding bitcoin transactions, the high-profile bitcoin scam in Karnataka, and the legality of cryptocurrency trading and crypto exchanges in India. Meanwhile, the winter session of parliament has begun and a…

Indian Payments Giant Paytm Could Offer Bitcoin Services if Government Makes Crypto Legal, Says CFO

by

Paytm, one of India’s largest payments companies, is open to offering bitcoin services if the crypto asset becomes legal in the country, according to its chief financial officer. If bitcoin “was ever to become fully legal in the country, then clearly…