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India’s Central Bank Digital Currency Will Act as Alternative to Cryptocurrency, Says RBI Official

India’s Central Bank Digital Currency Will Act as Alternative to Cryptocurrency, Says RBI OfficialAn official of India’s central bank, the Reserve Bank of India (RBI), says that the country’s central bank digital currency (CBDC) will act as an alternative to cryptocurrency. He stressed that the digital rupee must possess all the attributes of physical currency, including anonymity. India’s CBDC Update Reserve Bank of India (RBI) Executive Director Ajay […]

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India’s Central Bank Reveals 50,000 Users and 5,000 Merchants Now Using Digital Rupee

India’s Central Bank Reveals 50,000 Users and 5,000 Merchants Now Using Digital RupeeIndia’s central bank, the Reserve Bank of India (RBI), has revealed that 50,000 users and 5,000 merchants are now using its central bank digital currency (CBDC). Digital rupee transactions are currently processed by eight banks, with five more banks set to join the pilot soon, said RBI Deputy Governor T. Rabi Sankar. Digital Rupee Now […]

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Indian Central Bank RBI Begins First Digital Rupee Pilot Today

Indian Central Bank RBI Begins First Digital Rupee Pilot TodayIndia’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 infrastructure or for collateral to mitigate settlement risk,” said the central bank. RBI’s First […]

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