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RBI plans to bring Digital Rupee!!!



The Reserve Bank of India (RBI) said it is exploring whether there is a need to issue a digital version of the rupee in the country.

Private digital currencies have gained popularity in recent years," the central bank said in a booklet on payment systems in India. “In India, the regulators and governments have been sceptical about these currencies and are apprehensive about the associated risks. Nevertheless, RBI is exploring the possibility as to whether there is a need for a digital version of fiat currency and, in case there is, how to operationalize it," it said.

The booklet suggests that a digital version of the rupee is one of the many ways in which RBI is considering to increase the adoption of digital payment systems in India. It also mentions methods to make digital payments offline via mobile phones through “stored value component on cards".
The booklet suggests that a digital version of the rupee is one of the many ways in which RBI is considering to increase the adoption of digital payment systems in India. It also mentions methods to make digital payments offline via mobile phones through “stored value component on cards".
Posted On: Jan 28, 2021

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