In process of implementing digital currency: RBI official
   Date :21-Jul-2022

digital currency 
 
 
 
NEW DELHI, 
 
Reserve Bank of India (RBI) is in the process of implementing the Central Bank Digital Currency (CBDC) in a phased manner for the wholesale and retail segments, an official said on Wednesday.
The introduction of CBDC was announced in the Union Budget 2022-23, by Finance Minister Nirmala Sitharaman and necessary amendments to the relevant section of the RBI Act, 1934 has been made with the passage of the Finance Bill 2022, Ajay Kumar Choudhary, Executive Director (Fintech), Reserve Bank of India (RBI) said. Passage of bill has enabled RBI to conduct a pilot and subsequent issuance of CBDC, he said.
“RBI is also working on phased implementation of a CBDC in both wholesale and retail segment,” Choudhary said while addressing the ‘PICUP Fintech Conference & Awards’ by FICCI.
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