Reserve Bank of India Archives

Reserve Bank of India, BIS unveil G20 TechSprint 2023 to improve state of cross-border CBDC

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8 May, 2023

Reserve Bank of India, BIS unveil G20 TechSprint 2023 to improve state of cross-border CBDC

The primary focus of the G20 TechSprint 2023 is foreign exchange liquidity, anti-money laundering (AML), and central bank digital currencies...

India IT minister wary of digital currencies, sides with RBI for cautious approach

Business

Wahid Pessarlay

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7 April, 2023

India IT minister wary of digital currencies, sides with RBI for cautious approach

Rajeev Chandrasekhar pointed out that since digital currencies intersect with the macroeconomy and financial sector, a separate regulation must be...

India, UAE central banks collaborate on CBDCs with cross-border features

Business

Wahid Pessarlay

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19 March, 2023

India, UAE central banks collaborate on CBDCs with cross-border features

Building on their individual plans to improve the payments system, the central banks of India and the United Arab Emirates...

India expects digital currency firms to comply with national money laundering legislation

Business

Wahid Pessarlay

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10 March, 2023

India expects digital currency firms to comply with national money laundering legislation

Firms offering digital currency services in India are now covered by the PMLA of 2002, under which they are mandated...

India considers offline functionality of CBDC: RBI

Business

Wahid Pessarlay

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8 March, 2023

India considers offline functionality of CBDC: RBI

Reserve Bank of India Executive Director Ajay Kumar Choudhary said that since the CBDC will have all features of physical...

Reserve Bank of India: CBDC will not replace other payment methods despite initial successes

Business

Wahid Pessarlay

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3 March, 2023

Reserve Bank of India: CBDC will not replace other payment methods despite initial successes

RBI's Deputy Governor Rabi Sankar assured that existing payment services in India will remain and that exploring use cases of...

India explores cross-border payment functionality with Singapore

Business

Wahid Pessarlay

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26 February, 2023

India explores cross-border payment functionality with Singapore

The UPI-PayNow integration will provide a seamless cross-border transaction between India and Singapore, with citizens of both nations being able...

India in ‘no hurry’ for CBDC development despite notching huge milestones

Business

Wahid Pessarlay

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12 February, 2023

India in ‘no hurry’ for CBDC development despite notching huge milestones

India’s digital rupee pilot already had over 50,000 users and 5,000 merchants, but despite the impressive numbers, the Reserve Bank...

Reserve Bank of India Gov: Digital currencies are akin to gambling and should be banned

Business

Wahid Pessarlay

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19 January, 2023

Reserve Bank of India Gov: Digital currencies are akin to gambling and should be banned

Shaktikanta Das, head of the Reserve Bank of India, says that the best way to regulate the industry is to...

Business

James Field

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16 January, 2023

Systemic risk and digital assets

The impact of FTX's collapse may be largely restricted to the digital asset industry, but one effect the crisis had...

Bank of India pushes for global regulatory efforts over digital asset industry

Business

Wahid Pessarlay

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3 January, 2023

Bank of India pushes for global regulatory efforts over digital asset industry

The RBI report suggested using the “same-risk-same-regulatory-outcome” principle, which would see the virtual currency service providers being regulated similarly to...

RBI governor warns next financial crisis will come from privately run digital currencies

Business

Wahid Pessarlay

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24 December, 2022

RBI governor warns next financial crisis will come from privately run digital currencies

Instead of speculative coins, RBI Governor Shaktikanta Das says CBDCs will address the growing 'cryptoization' of the economy while providing...

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