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Reserve Bank of India

India finance minister: Digital assets policy needs international collaboration to be effective
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23 July, 2022

India finance minister: Digital assets policy needs international collaboration to be effective

The finance ministry does not support RBI's plan to ban digital assets because a decision to ban them will only...
RBI: Chances of India’s ‘cryptoisation’ limited but still need close monitoring
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6 July, 2022

RBI: Chances of India’s ‘cryptoisation’ limited but still need close monitoring

The Reserve Bank of India states that digital assets don't pose a significant risk because the market is relatively small,...
RBI collaborating with top banks for blockchain-based trade financing pilot project
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29 June, 2022

RBI collaborating with top banks for blockchain-based trade financing pilot project

Top banks currently involved in the pilot include HDFC Bank, ICICI Bank, and State Bank of India (SBI). Axis Bank,...
Reserve Bank of India deputy gov confirms 2023 launch for CBDC
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15 June, 2022

Reserve Bank of India deputy gov confirms 2023 launch for CBDC

T. Rabi Sankar's statement echoes the RBI's revelation in its annual report released earlier this month, where it said it...
Reserve Bank of India deputy gov tells IMF: CBDCs can kill digital currencies
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12 June, 2022

Reserve Bank of India deputy gov tells IMF: CBDCs can kill digital currencies

Speaking at a webinar series organized by the IMF, RBI Deputy Governor T. Rabi Sankar stated that the Indian central...
Reserve Bank of India lists CBDC introduction as one of major initiatives for 2022-23
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1 June, 2022

Reserve Bank of India lists CBDC introduction as one of major initiatives for 2022-23

In its annual report published recently, the Reserve Bank of India proposed a three-stage "graded approach" to introduce a central...
India: central bank governor maintains stance, says digital currencies have no value
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28 May, 2022

India: central bank governor maintains stance, says digital currencies have no value

Reserve Bank of India Governor Shaktikanta Das reminded that before the market crash, the RBI had been warning of the...
Reserve Bank of India warns digital currencies will ‘dollarize’ economy
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22 May, 2022

Reserve Bank of India warns digital currencies will ‘dollarize’ economy

The central bank says that digital currencies will seriously undermine its ability to determine monetary policy and contribute to money...
India digital currency regulations aftermath: Frozen payments, Bitcoin brain drain, traders’ woes and more
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27 April, 2022

India digital currency regulations aftermath: Frozen payments, Bitcoin brain drain, traders’ woes and more

Investors and traders are bearing the strict regulations on digital currency in India—with some transferring their digital currencies to overseas...
Digital currencies are ‘akin to Ponzi Schemes’: RBI deputy
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18 February, 2022

Digital currencies are ‘akin to Ponzi Schemes’: RBI deputy

Deputy Governor T. Rabi Sankar at the Reserve Bank of India likened digital currencies to Ponzi schemes and said banning...
India digital currency sector hopeful of regulation during Feb 1 budget presentation
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28 January, 2022

India digital currency sector hopeful of regulation during Feb 1 budget presentation

India's Finance Minister Nirmala Sitharaman will read the budget on February 1, and many are hopeful that she'll talk digital...
India’s central bank sets up fintech department to oversee CBDC development
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13 January, 2022

India’s central bank sets up fintech department to oversee CBDC development

The department will promote innovation and aid policy interventions by the central bank while also overseeing the advancement of a...