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India’s Reserve Bank outlined the pros and cons of a digital rupee as it looks to raise awareness around its CBDC project.
The Reserve Bank of India (RBI) has outlined proposed features and reasoning behind its in-development central bank digital currency (CBDC) in a 51-page note published on Oct. 7.
The country’s central bank is looking to raise awareness of CBDCs, which are being developed by a number of central banks around the world, and to clearly define the objectives and choices as well as potential positive and negative elements of introducing a digital rupee in India.
The document summarizes the key motivations for the issuance of an Indian CBDC, highlighting trust, safety, liquidity as well as settlement finality and integrity as key components of a sovereign digital currency.
A primary motivator for issuing a CBDC in India will be to r
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