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Informist, Wednesday, Apr. 8, 2026

 

--RBI Sankar: CBDC future of payments; there is a right time to launch it 

--RBI Sankar: Gradually getting tech, use cases right for CBDC 

--RBI Sankar: No hurry to launch CBDC 

 

MUMBAI – The Central Bank Digital Currency is the future of payments, but there is a right time to launch it, Reserve Bank of India Deputy Governor T. Rabi Sankar said Wednesday. The right time to launch the Central Bank Digital Currency depends on other countries being "ready" for it, as the biggest advantage of this currency is in cross-border transactions, Sankar said at a post-policy press conference. The RBI is in no hurry to launch the digital currency, he said.

 

"... So, if you quickly launch it and the other countries have not launched it, that is not the situation we want to be in," Sankar said. "Which is why we are gradually moving, getting the technology right, getting the use cases right, like many government direct payments are being used."

 

In 2022, the RBI launched two pilot projects for wholesale e-rupee and retail e-rupee. Over the years, the central bank has introduced new features and use cases for its digital currency. Sankar said that the central bank is developing the programmability of the digital currency as another payment instrument, which is its distinguishing feature.

 

The total number of digital currency users stands at 10 million. There have been 150 million transactions using the central bank digital currency with a total value of INR 340 billion, Sankar said.  End

 

IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT

 

Reported by Janwee Prajapati

Edited by Saji George Titus

 

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