India to roll out CBDC using a graded approach: RBI Annual Report

India to roll out CBDC using a graded approach: RBI Annual Report

Cryptocurrency23 minutes ago (May 29, 2022 03:00AM ET)

India to roll out CBDC using a graded approach: RBI Annual Report

Further cementing India’s decision to introduce an in-house central bank digital currency (CBDC) in 2022-23, the Reserve Bank of India (RBI) proposed a three-step graded approach for rolling out CBDC “with little or no disruption” to the traditional financial system.

In February, while discussing the budget for 2022, Indian finance minister Nirmala Sitharaman spoke about the launch of a digital rupee to provide a “big boost” to the digital economy. In the annual report released Friday by India’s central bank, RBI revealed exploring the pros and cons of introducing a CBDC.

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India to roll out CBDC using a graded approach: RBI Annual Report

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