RBI planning to launch Central Bank Digital Currency in near future
New Delhi. Reserve bank of India is planning to launch Central Bank Digital Currency (CBDC) in the near future. Deputy Governor T Rabi Shankar said, RBI is currently working towards a phased implementation strategy and examining use cases which could be implemented with little or no disruption. Conducting pilots in wholesale and retail segments may be a possibility in near future. He was speaking in a webinar organised by the Vidhi Centre for Legal Policy, New Delhi.
High Level Inter-Ministerial Committee constituted by Ministry of Finance in November 2017 to examine the policy and legal framework for regulation of virtual currencies had recommended the introduction of CBDC.