India To Have Its Own Digital Currency: What It Means

An RBI official spoke to NDTV on the digital currency rollout and what it means. "The announcement on digital rupee is an amendment to the RBI act which allows the use of digital currency. This is completely different from the Crypto Asset Act which will come in due course. When you talk about digital currency, it will come in a year or so because India is way ahead in digital payments and printing of currency will come down as the digital currency comes. Maybe we will reduce ourselves to only smaller denomination notes which will be available in the market. International exchanges will become much easier and third and the most important is that there will be a digital footprint of every transaction that will happen," said Dr Aruna Sharma, RBI digitisation committee.