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RBI to Roll Out eRupee CBDC Widely After Viewing Outcome or Impact: Report
Despite the recent developments in the area, India’s central bank is is no rush to roll out the CBDC to the nationals. The situation was addressed in Philippines by RBI deputy governor T. Rabi Sankar, reportedly during a conference.
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RBI Deputy Governor Rabi Sankar's Tenure Extended By 1 Year
Mr Sankar was appointed the RBI Deputy Governor in May, 2021 for a period of three years.
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India In Talks With More Jurisdictions On Cross-Border Payments: RBI
Reserve Bank Deputy Governor T Rabi Sankar on Friday said the high cost of remittances for countries despite the available technology was "unconscionable", and India is in talks with more jurisdictions to make a material impact on cross-border
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"Aim To Increase E-Rupee Transactions To 10 Lakh Per Day": RBI Deputy Governor
At present, the number of CBDC or e-rupee transactions stands at about 5,000 to 10,000 a day.
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Existing UPI QR Codes Could Begin Processing Transactions in eRupee CBDC: RBI’s T Rabi Sankar
The RBI is considering if existing QR codes must act like a gateway for CBDC transactions. Currently, eRupee worth over Rs. 130 crore are in circulation as part of the going trials. The detail was revealed by Indian Finance Minister Nirmala Sitharaman earlier in March. By the end of June, India aims to onboard a million users to its CBDC ecosystem,...
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Feeding Of Fake Notes In Coin Vending Machines Led To UPI-Based Alternative: RBI
Getting fake currency notes in coin vending machines led the Reserve Bank to announce the unified payment system-based alternative, Deputy Governor T Rabi Sankar said on Wednesday.
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Digital Rupee Pilot: 50,000 Users Transacting Through Digital Currency, Says RBI
The pilot project started on December 1 has witnessed 7.70 lakh transactions, and is now being carried out in five cities, Deputy Governor T Rabi Sankar said.
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Central Bank Digital Currency Transactions to Remain Anonymous 'To a Certain Degree': RBI
Central bank digital currencies (CBDC) transactions would remain anonymous to a certain degree, Reserve Bank of India Deputy Governor T Rabi Sankar said on Wednesday. The IT department allows cash transactions up to a certain limit to be carried out without government ID proof, but the RBI is yet to clarified the degree to which CBDC transactions w...
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CBDCs Will Make Cross-Border Transactions Cost-Effective and Fast, Says RBI Deputy Governor
Reserve Bank of India's (RBI) Deputy Governor T. Rabi Sankar has stated at the Indo-US summit that CBDC is the most efficient system in sight for cross-border payments.
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Digital Currency Will Cut Cross-Border Payments Cost: RBI Deputy Governor
Central bank digital currency (CBDC), to be launched this year, could become a tool for reducing time and cost for cross-border transactions, Reserve Bank Deputy Governor T Rabi Sankar said on Wednesday.
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Cryptocurrencies Like World Of Caribbean Pirates Without Regulation: Chief Economic Adviser
Chief Economic Adviser V Anantha Nageswaran said on Thursday that crypto currencies have yet to pass the test to become fiat currency
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India to Bring Laws on Crypto Taxations, RBI Deputy Raises CBDC-Related Concerns Before IMF
As India awaits its crypto laws, it is also gearing up for a revamp in the taxation laws around virtual digital assets (VDAs). The development also comes at a time when the RBI deputy governor T Rabi Sankar told IMF officials that stablecoins are not exactly safe to be used as payment options.
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Central Bank Digital Currencies Can Kill Case For Cryptos: RBI Deputy Governor
Ahead of the government coming out with a consultation paper on cryptocurrencies, Reserve Bank Deputy Governor T Rabi Sankar on Thursday said the soon-to-be-introduced central bank digital currencies (CBDCs) can "kill" whatever little case that exists for private virtual currencies like Bitcoin.
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No Official Talks On Rupee-Rouble Payments, Says Commerce Secretary
Commerce Secretary B V R Subrahmanyam on Wednesday denied that any official negotiations are going on with Russia over Rupee-Rouble payment
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CBDC Launch Needs a Nuanced, Calibrated Approach: RBI Deputy Governor
Reserve Bank of India Deputy Governor T Rabi Sankar said a nuanced and calibrated approach is essential for launch of India's maiden digital currency as it would have various implications for the economy and monetary policy.
-
RBI to Roll Out eRupee CBDC Widely After Viewing Outcome or Impact: Report
Despite the recent developments in the area, India’s central bank is is no rush to roll out the CBDC to the nationals. The situation was addressed in Philippines by RBI deputy governor T. Rabi Sankar, reportedly during a conference.
-
RBI Deputy Governor Rabi Sankar's Tenure Extended By 1 Year
Mr Sankar was appointed the RBI Deputy Governor in May, 2021 for a period of three years.
-
India In Talks With More Jurisdictions On Cross-Border Payments: RBI
Reserve Bank Deputy Governor T Rabi Sankar on Friday said the high cost of remittances for countries despite the available technology was "unconscionable", and India is in talks with more jurisdictions to make a material impact on cross-border
-
"Aim To Increase E-Rupee Transactions To 10 Lakh Per Day": RBI Deputy Governor
At present, the number of CBDC or e-rupee transactions stands at about 5,000 to 10,000 a day.
-
Existing UPI QR Codes Could Begin Processing Transactions in eRupee CBDC: RBI’s T Rabi Sankar
The RBI is considering if existing QR codes must act like a gateway for CBDC transactions. Currently, eRupee worth over Rs. 130 crore are in circulation as part of the going trials. The detail was revealed by Indian Finance Minister Nirmala Sitharaman earlier in March. By the end of June, India aims to onboard a million users to its CBDC ecosystem,...
-
Feeding Of Fake Notes In Coin Vending Machines Led To UPI-Based Alternative: RBI
Getting fake currency notes in coin vending machines led the Reserve Bank to announce the unified payment system-based alternative, Deputy Governor T Rabi Sankar said on Wednesday.
-
Digital Rupee Pilot: 50,000 Users Transacting Through Digital Currency, Says RBI
The pilot project started on December 1 has witnessed 7.70 lakh transactions, and is now being carried out in five cities, Deputy Governor T Rabi Sankar said.
-
Central Bank Digital Currency Transactions to Remain Anonymous 'To a Certain Degree': RBI
Central bank digital currencies (CBDC) transactions would remain anonymous to a certain degree, Reserve Bank of India Deputy Governor T Rabi Sankar said on Wednesday. The IT department allows cash transactions up to a certain limit to be carried out without government ID proof, but the RBI is yet to clarified the degree to which CBDC transactions w...
-
CBDCs Will Make Cross-Border Transactions Cost-Effective and Fast, Says RBI Deputy Governor
Reserve Bank of India's (RBI) Deputy Governor T. Rabi Sankar has stated at the Indo-US summit that CBDC is the most efficient system in sight for cross-border payments.
-
Digital Currency Will Cut Cross-Border Payments Cost: RBI Deputy Governor
Central bank digital currency (CBDC), to be launched this year, could become a tool for reducing time and cost for cross-border transactions, Reserve Bank Deputy Governor T Rabi Sankar said on Wednesday.
-
Cryptocurrencies Like World Of Caribbean Pirates Without Regulation: Chief Economic Adviser
Chief Economic Adviser V Anantha Nageswaran said on Thursday that crypto currencies have yet to pass the test to become fiat currency
-
India to Bring Laws on Crypto Taxations, RBI Deputy Raises CBDC-Related Concerns Before IMF
As India awaits its crypto laws, it is also gearing up for a revamp in the taxation laws around virtual digital assets (VDAs). The development also comes at a time when the RBI deputy governor T Rabi Sankar told IMF officials that stablecoins are not exactly safe to be used as payment options.
-
Central Bank Digital Currencies Can Kill Case For Cryptos: RBI Deputy Governor
Ahead of the government coming out with a consultation paper on cryptocurrencies, Reserve Bank Deputy Governor T Rabi Sankar on Thursday said the soon-to-be-introduced central bank digital currencies (CBDCs) can "kill" whatever little case that exists for private virtual currencies like Bitcoin.
-
No Official Talks On Rupee-Rouble Payments, Says Commerce Secretary
Commerce Secretary B V R Subrahmanyam on Wednesday denied that any official negotiations are going on with Russia over Rupee-Rouble payment
-
CBDC Launch Needs a Nuanced, Calibrated Approach: RBI Deputy Governor
Reserve Bank of India Deputy Governor T Rabi Sankar said a nuanced and calibrated approach is essential for launch of India's maiden digital currency as it would have various implications for the economy and monetary policy.
