Highlights

  • RBI looking to start digital currency trial by December
  • Central bank studying security and stability of digital currency
  • Growing interest in digital tokens in India with 15 million crypto investors

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Digital Rupee soon: Digital currency trials to start by December says RBI Governor

The Reserve Bank of India may launch its first digital currency trial programs by December, RBI governor Shaktikanta Dasw said in an interview with CNBC global. 

In a big move towards the digital token acceptance, the biggest skeptic of the technology RBI is looking to launch trials of the digital rupee by the end of this year as per reports.

RBI is aiming at starting trials for the digital currency by December said central bank governor Shaktikanta Das to CNBC in an interview. The banking regulator stated “We are being extremely careful about it because it’s completely a new product, not just for RBI, but globally.”

The RBI who had looked at putting a complete stop to the crypto trade in India in 2018 is now looking at the blockchain bet by having a centralized ledger for the digital currency or the so-called distributed ledger technology (DLT).

Central banks across the globe from China, Europe and the U.K. are exploring digital currencies or CBDCs that would be issued by them to have some 'control' on the fast growing digital token trade.

Also watch: Get your wallets ready for Digital Rupee

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