The Central Bank of India supports CBDC in its simple form as an alternative to cash.

In a statement released yesterday, the Indian Central Bank described the benefits of a digital financial institution and its future in India. for

The statement said, “In their simplest form, central bank digital currencies (CBDCs) provide more secure, reliable and convenient treasury systems. In their design, CBDCs can be a difficult case of financial equipment.

The Financial Services Corporation of India currently supports CBDCs for cross-border payments, which are subject to change banks in the future. for

In addition, according to the law and the amendment of the International Bank of India of December 28, "given the positive impact of the CBDC on macroeconomic policy, the impact on monetary policy and the mitigation of l 'economic impact. Weak. "

However, it is not just an electric rupee. Administrators also raised important issues that need to be addressed before the electronic rupee debuts. for

“Problem / size analysis will also help determine the most appropriate use of technology to address these issues,” the report notes.

You will also need to make some decisions about your retail and wholesale business. On a related note, the Bank of India also discussed CBDC's distribution model in India. For example, can RBI be the only company that can directly deliver digital benefits, or can companies be involved? for

However, in a previous statement, referring to Vice President T. Rabi Sankar of the Central Bank of India, he said that the Bank of India intends to explore both wholesale and retail CBDCs. . for

T. Rabi Sankar said, "We have done a lot of wholesale work based on the CBDC, but the retail is a bit more difficult and takes time," said T. Rabi Sankar.

At the same time, the central bank of India's electric rupee utility was exposed at a recently convened meeting in Indian Parliament this winter. The central bank has submitted a request for CBDC to Parliament. It is also said that a “level implementation strategy” is being developed to introduce digital banking services to Indian consumers. for

The report states that this measure aims to expand the application of the rupee without significant impact on the financial sector. for

But behind the news is the Bank of India's collapse in its own cryptocurrencies like Bitcoin. India seems to have followed more stringent regulations and the use of CBDCs deserves our attention.