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India, UAE Collaborate to Boost Cross-Border Central Bank Digital Currency Transactions

[Mar 15, 2023 8:30 PM] India’s central bank, the Reserve Bank of India (RBI), and the Central Bank of the United Arab Emirates (UAE) have agreed to collaborate on cross-border central bank digital currency (CBDC) transactions of remittances and trade. The initiative is…

India’s Central Bank Digital Currency Will Act as Alternative to Cryptocurrency, Says RBI Official

[Mar 3, 2023 9:30 PM] An official of India’s central bank, the Reserve Bank of India (RBI), says that the country’s central bank digital currency (CBDC) will act as an alternative to cryptocurrency. He stressed that the digital rupee must possess all the…

G20 Finance Chiefs Widely Recognize Crypto Poses Major Financial Stability Risks, Says Indian Central Bank Governor

[Feb 27, 2023 9:30 PM] The G20 finance ministers and central bank governors recognize that cryptocurrencies pose major risks to financial stability, monetary systems, and cyber security, India’s central bank governor reportedly said. Crypto regulation was among the…

Digital Rupee Attracts 50,000 Users, India’s Central Bank Says

[Feb 12, 2023 7:30 AM] India’s central bank, the Reserve Bank of India (RBI), has announced that 50,000 users have adopted the nation’s central bank digital currency (CBDC), the digital rupee. In a press conference on Wednesday, RBI’s Deputy Governor Rabi Sankar stated…

Nothing Outlaws Crypto in India if Legal Procedures Are Followed, Says Government Official

[Jan 20, 2023 9:30 PM] An Indian government official says that there is currently nothing that outlaws crypto in India “as long as you follow the legal process.” Meanwhile, the country’s central bank, the Reserve Bank of India (RBI), has stressed that…

Indian Central Bank Chief Insists Crypto Should Be Banned — Warns ‘It Will Undermine Authority of RBI’

[Jan 15, 2023 10:30 PM] India’s central bank has reiterated its stance on banning cryptocurrencies like bitcoin and ether. The governor of the Reserve Bank of India (RBI) likened cryptocurrency trading to gambling. He warned that crypto “will undermine the…

Crypto could spark the next financial crisis, says India’s RBI head

[Dec 21, 2022 8:10 PM] Reserve Bank of India Governor Shaktikanta Das warned that if crypto becomes regulated and is allowed to grow, it could cause the next financial meltdown.

India’s Central Bank Digital Currency Should Be Able to Do Anything Cryptocurrency Can Do With No Risk, Official Claims

[Dec 5, 2022 10:30 PM] An Indian central bank official claims that if there is anything cryptocurrencies like bitcoin and ether can do, the Reserve Bank of India (RBI) should be able to create a product that will do the same job without the associated risks. “This…

RBI Begins First Retail Digital Rupee Pilot in 13 Indian Cities With 8 Banks

[Nov 29, 2022 11:00 PM] India’s central bank, the Reserve Bank of India (RBI), is launching its first retail digital rupee pilot on Dec. 1 with the participation of eight banks. The pilot will start in four cities and then expand to cover nine more cities across…

The Reserve Bank of India to launch a retail CBDC pilot in December

[Nov 22, 2022 4:13 AM] The digital rupee is intended as a supplement to the current payment system and not its replacement.