Mumbai: India’s central bank digital currency pilots in wholesale and retail segments have largely met with success since last year, but some banks have recently hit a bump as statutes do not permit the money to be used for meeting the Cash Reserve Ratio (CRR) requirement. A person aware of the development told ET that … Read more
The Reserve Bank of India is receiving encouraging responses from countries to participate in rupee-based trading, deputy governor T Rabi Sankar has said. RBI has been pushing rupee-based trade settlement since July this year by creating a comprehensive framework for it, as part of its endeavour in the process of ‘internationalisation’ of the rupee. “Increased … Read more
New Delhi: The RBI is working on phased introduction of its own digital currency and is mulling pilot projects in wholesale and retail segments in the near future, Deputy Governor T Rabi Sankar said on Thursday. He also said several countries have implemented specific purpose Central Bank Digital Currencies (CBDCs) in the wholesale and retail … Read more
Reserve Bank of India (RBI) Deputy Governor T Rabi Sankar on Monday urged the industry to make the pricing of financial products and services transparent to minimise chances of mis-selling. Speaking at an event organised by think-tank National Council of Applied Economic Research (NCAER), he said there is an amount of pricing even in the … Read more