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 […]
India, UAE sign bilateral CBDC, Fintech innovation agreement
In a significant move towards fostering innovation in the financial sector, CBUAE and RBI have signed a CBDC and Fintech innovation agreement. The agreement aims to improve coordination between the two central banks, with a particular emphasis on new fintech applications like central bank digital currencies (CBDCs). According to the terms of the Agreement, the […]
Reserve Bank Of India To Reportedly Launch Digital Rupee Pilot
After announcing its plan to create a digital rupee, the Reserve Bank of India is on schedule to introduce a central bank digital currency. The RBI announced on October 31 that the Indian Reserve Bank will begin the digital rupee pilot program for the wholesale market on November 1.Nine locally active institutions, including the largest […]
Former RBI Deputy Governor pushes for cryptocurrency acceptance in India
According to a former Deputy Governor of the Reserve Bank of India, cryptocurrencies are taxable assets or commodities. In an interview with the Financial Times, the former Deputy Governor of the Reserve Bank of India (RBI) spoke out against the country’s financial and crypto ecosystems, stating that digital assets must be embraced. According to Rama […]
India CBDC preliminary trials may commence in December, says RBI governor
As CBDC exploration continues to gain traction around the world, India’s central bank is carefully weighing the advantages of releasing a digital rupee to the country’s citizens. A preliminary central bank digital currency (CBDC) trial by the Reserve Bank of India could begin before the end of the year, according to reports. In an interview […]