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India's Central Bank Cautious on Full CBDC Rollout India’s Central Bank Adopts Cautious Approach to CBDC Rollout The Reserve Bank of India (RBI) has adopted a deliberate stance on the nationwide rollout of its central bank digital currency (CBDC), the e-rupee, emphasizing the need to fully understand its broader implications before expanding its use. Speaking at a conference in Cebu, Philippines, RBI Deputy Governor T. Rabi Sankar highlighted the transformative potential of CBDCs in areas ... crypto news

India's Central Bank Flags Risks in CBDC Adoption Amid Financial Instability India's central bank has raised concerns about the potential risks posed by Central Bank Digital Currencies (CBDCs), particularly during financial crises, according to a report from Business Standard. Michael Debabrata Patra, Deputy Governor of the Reserve Bank of India (RBI), cautioned that CBDCs might be mistakenly viewed as "safe havens" during economic turmoil, thereby increasing the likelihood of bank runs. Patra noted that while CBDCs a... Coinatory crypto news

In fact, banning Bitcoin, the Indian authorities are considering the possibility of creating their own cryptocurrency. According to Quartz, an expert group under the Ministry of Finance may soon recommend to the government the launch of the national cryptocurrency Lakshmi. A senior government official who participated in the panel discussions told: “We are evaluating the government-backed cryptocurrency and crypto-token. And we are looking to develop and encourage our own research and development of blockchain technology” The expert gro ... Read more about " India intends to replace Bitcoin with “divine” digital currency Lakshmi " on coinatory.com