Cryptocurrencies
India Plans Phased Central Bank Digital Rupee Launch
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India’s central bank is working toward a phased introduction of a digital currency and will put forth a final design after it has conducted large scale pilot projects.
The Reserve Bank of India is exploring the option of implementation of an account-based central bank digital currency or CBDC for the wholesale segment and token-based currency for the retail sector, it said in a paper released on Friday. The digital currency will be referred to as the e-rupee and will provide an additional option to all the available forms of money, it said.