The Reserve Bank of India (RBI) stated that they are taking a phased approach to the issuance of a CBDC.
According to a report by local Indian media News 18, the Reserve Bank of India (RBI) released its annual report on Friday. The report states that the central bank is interested in launching a possible CBDC, but is taking a “progressive” approach. The report states:
“The Central Bank is considering taking a phased approach, step-by-step through the CBDC rollout, proof of concept, pilots, and launch phases. (…) Accordingly, appropriate design elements of CBDCs that can be implemented with little or no disruption are being studied.”
As we reported earlier, India is planning to launch a digital rupee.
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