Today the Governor of the Reserve Bank of India, Shaktikanta Das, spoke to CNBC about its plans for a central bank digital currency (CBDC), saying it may be ready for digital rupee trials by the end of the year.
However, the bank is keen to tread cautiously to ensure it’s not possible to clone the digital currency and be careful about the impact on monetary policy and the banking system.
But it seems that many typical CBDC decisions still have to be made, and some of them are needed for trials. That includes whether the central bank should issue the digital currency directly or do so via commercial banks.
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