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India Plans to Launch Its Own Digital Rupee Soon

India Plans to Launch Its Own Digital Rupee Soon
Written by Publishing Team

This week, India’s Finance Minister Nirmala Sitharaman announced that New Delhi was planning to roll out its own central bank digital currency (CBDC) later this year.

At the India Global Forum 2022 in Bengaluru this week, Sitharaman said, “It was a conscious call taken in consultation with the central bank – the Reserve Bank of India. We would like them to design it the way they would like to do it, but this year we expect the currency to come out from the central bank itself.”

The government has been exploring the option for more than a year, and is currently consulting with stakeholders and industry leaders on a CBDCs.

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