Central Bank of India may begin testing digital rupee early 2022 of the year – Bits Media

Head of Payments and Settlement, Reserve Bank of India (RBI) Shri Vasudevan narrated, that the central bank has planned a pilot launch of its own digital currency for the first quarter of next year.

This was reported by the local publication The Times of India.. According to Shri Vasudevan (Shri P. Vasudevan), Central Bank of India is studying, In which market segments can the digital rupee be used?, whether it will be used by organizations or individuals, as well as mechanisms for its safe operation. RBI is investigating, Is it possible to use a state stablecoin to avoid the involvement of intermediaries in making payments?, to simplify and speed up transactions.

RBI pays special attention to the issue, what should the digital rupee be?: decentralized or semi-centralized. Vasudevan suggested, что тестирование цифровой валюты индийского центробанка может начаться уже в I квартале 2022 of the year, однако официальные сроки ее запуска не сообщаются. Банк Индии обеспокоен тем, что частные криптовалюты представляют большие риски как для индийской экономики, так и для мировой финансовой стабильности.

«Мы изучаем различные нюансы, связанные с цифровой рупией. You can't tell, that people will start using it confidently and easily from tomorrow. It all depends, How firmly will the digital rupee be introduced into the payments industry?, so there’s no need to rush into launching it too much.”, – Vasudevan said.

Previously, former Indian Economic Affairs Minister Subhash Chandra Garg (Subhash Chandra Garg) stated, what if central banks launch their own digital currencies, people will stop being interested in stablecoins and regular cryptocurrencies.