The Reserve Bank of India (RBI) will soon begin limited pilot launches of the digital rupee for specific use cases.
According to Reuters, it was learned that the RBI has been researching the pros and cons of the central bank digital currency (CBDC) for some time and is working on a strategy to implement it in a phased manner.
" It is the responsibility of central bank to provide its citizens with a risk free central bank digital money which will provide the users the same experience of dealing in currency in digital form, without any risks associated with private cryptocurrencies" the RBI statement said.
