RBI plans digital currency, may conduct pilots in retail and wholesale segments  

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Reserve Bank of India (RBI) may soon come up with central bank digital currency (CBDC). Deputy Governor of RBI, T Rabi Shankar informed that the apex bank is considering a phased implementation strategy and its examining the use cases to be implemented without any disruption. For the same, it’s all set to conduct pilots in retail and wholesale segments in near future.

The introduction of CBDC has been recommended by High Level Inter-Ministerial Committee constituted by Finance Ministry to examine the legal framework and the policy for regulation of virtual currency.

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