What Do We Know About India’s CBDC And Its Graded Approach?

What Do We Know About India’s CBDC And Its Graded Approach?
HeadlinesNewsWhat Do We Know About India’s CBDC And Its Graded Approach?

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What Do We Know About India’s CBDC And Its Graded Approach?

Bitcoinist.coma month ago
Published on May 29, 2022 01:00 GMT+00:00edited on May 30, 2022 08:54 GMT+00:00

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India remains firm on its idea to introduce the Central Bank Digital Currency (CBDC) in 2022-23. In the recent most development in regards to the same, the Reserve Bank of India (RBI) has proposed a graded approach for the introduction of the CBDC.

The annual report released by the Reserve Bank Of India stated the graded approach will be beneficial in terms of maintaining the objectives of the monetary policies, financial stability along with an efficient operation of the currency and payments system.

This approach shall reportedly happen in a three-step manner which will cause “little to no disruption” to the traditional financial system.

Central Bank stated in the annual report that,

The Reserve Bank of India proposes to adopt a graded approach to introduction of CBDC, going …