India Suggests Inputs for Crypto Framework to G20
India has endorsed the Financial Stability Board’s (FSB) July recommendations for a global crypto framework emphasizing the need for developing economies to address the dangers associated with digital assets. India released its presidency note for input into a roadmap for a global crypto framework on August 1. The document endorses the FSB, the Financial Action […]
India Fosters Global Cross-Border Payments for Digital Rupee
The Reserve Bank of India (RBI) is on course to expand the frontiers of its Central Bank Digital Currency (CBDC), the “digital rupee”. The Reserve Bank of India (RBI) is presently in talks with counterparts from at least 18 other nations on the potential for cross-border payments using its Central Bank Digital Currency (CBDC), the […]
JPMorgan Utilizes Blockchain for Bank Transfers in India
JPMorgan, in its quest to investigate the advantages of blockchain, has used the technology to perform interbank dollar transactions in India, eradicating some limitations of conventional finance. Bloomberg reported on June 5 that JPMorgan has partnered with six major Indian banks to launch a blockchain-based platform for the intermediary settlement of dollar transactions. HDFC Bank […]
RBI Advises Banks to Adopt AI, Blockchain Technologies
Reserve Bank of India’s (RBI) Deputy Governor has recommended that Indian bank directors “adopt innovative technologies such as artificial intelligence (AI) and blockchain.” During a conference held by the Reserve Bank of India (RBI) for the directors of Indian institutions, the Deputy Governor, Mahesh Kumar Jain, discussed risk strategies for sustainable growth and stability. Jain […]
India to Expand CBDC Pilot to More Locations
The Reserve Bank of India (RBI) stated that it is expanding its ongoing pilot of the Central Bank Digital Currency (CBDC) to more locations and financial institutions so as o add more use cases and features to the digital currency. RBI stated in its annual report that the CBDC was introduced in phases throughout the […]