The Reserve Bank of India (RBI) has asked 4 banks to pilot India's central bank digital currency (CBDC). crypto cryptocurrency
India’s central bank, the Reserve Bank of India , has reportedly asked four banks to pilot the country’s central bank digital currency ahead of its public launch.The Reserve Bank of India , the country’s central bank, has reportedly asked four public-sector banks to trial India’s central bank digital currency , Moneycontrol reported Monday, citing two unnamed bank officials.
“There is a pilot on CBDCs,” another senior public-sector bank official confirmed to the publication. “The RBI may come with the launch this year. When it will exactly roll out the product and specifications is to be seen.” The Reserve Bank of India is also reportedly consulting with several fintech companies on the digital rupee. Among them is the U.S.-based firm FIS, which has been advising central banks on CBDC issues, such as offline and programmable payments, financial inclusion, and cross-border CBDC payments.FIS has had various engagements with the RBI … Our connected ecosystem could be extended to the RBI to experiment with various CBDC options.
“Whether it is a wholesale or retail CBDC transaction, our technology can also be extended to commercial banks where they can test and tokenize central bank money in the form of digital regulated money,” she added.
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