CBDCs can replace cash transactions to some extent in India, says RBI Deputy Governor - Moneycontrol

4/7/2022 12:00:00 AM3 years 10 months ago
by Piyush Shukla

"Over the last five years, while digital payments have risen at an average annual growth rate of about 50% roughly in India, the supply of currency has also almost nearly doubled, " T. Rabi Shankar said.

Central bank digital currency (CBDC) can replace cash-based transactions to some extent in India, Reserve Bank of India Deputy Governor T. Rabi Shankar said in an ICRIER webinar on Getting Central Ba… [+2544 chars]

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CBDCs can replace cash transactions to some extent in India, says RBI Deputy Governor - Moneycontrol

&quot;Over the last five years, while digital payments have risen at an average annual growth rate of about 50% roughly in India, the supply of currency has also almost nearly doubled, &quot; T. Rabi Shankar said.

"Over the last five years, while digital payments have risen at an average annual growth rate of about 50% roughly in India, the supply of currency has also almost nearly doubled, " T. Rabi Shankar said.