Reserve Bank of India Archives

Reserve Bank of India goes in-depth on its CBDC plans

The Reserve Bank of India (RBI) has released a 51-page report outlining the proposed features of its in-development central bank digital currency (CBDC).

The report details the pros and cons of a digital rupee for India whilst also trying to raise awareness for the reasoning and objectives behind CBDC development.

Key motivations for issuing a CBDC, according to the report, include the promotion of trust, safety, liquidity, and settlement finality.

Reducing the...

10 October 2022 | CBDC

India announces digital rupee rollout and 30% crypto tax

India is carving out its central bank digital currency (CBDC) plans with a digital rupee launch set for the coming financial year, as well as a 30% crypto tax.

In Tuesday’s speech on the upcoming year’s budget, Indian finance minister Nirmala Sitharaman confirmed the launch of a CBDC by 2023 to boost economic growth.

“Introduction of a central bank digital currency will give a big boost to the digital economy. Digital currency will also lead to a more efficient and...