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Today the Governor of the Reserve Bank of India, Shri Shaktikanta Das, discussed progress with the digital rupee, saying he’s not in a rush. He confirmed the previously reported figure of five million users and 16 banks that are part of the central bank digital currency (CBDC) pilot, which started in late 2022.
“There should not be any rush to roll out systemwide CBDC before one acquires a comprehensive understanding of its impact on users, on monetary policy, on the financial system and on the broader economy,” said Governor Das. He noted these effects can only be assessed through more pilots.
He added that the “actual introduction of CBDC can be phased in gradually over a period of time. Undoubtedly, CBDC has the potential to underpin the payment systems of the future both for domestic payments and also cross border payment.”
Retrieved from: https://www.ledgerinsights.com/india-says-cbdc-roll-out-will-be-gradual-no-rush/
