RBI In No Rush To Implement CBDC Full Scale; Governor Das
The Reserve Bank of India (RBI) is hesitant to fully implement the Central Bank Digital Currency (CBDC) due to its safety, integrity, and efficiency.
CBDCs are digital legal tenders issued by central banks, similar to fiat currency but with a different form. The RBI introduced CBDC in phases during FY23, with pilots launched in wholesale and retail segments.
The country-wide launch depends on the success, learning, and fine-tuning of CBDC. Governor Shaktikanta Das stated that implementation is not in a rush, as it requires safety, integrity, and efficiency.
CBDC transactions are primarily in the retail segment, while wholesale transactions involve the Government Securities market and the overnight money market.
(With inputs from Shikha Singh)
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