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Reserve Bank of India will start using the digital rupee in December 2021

Şükriye Akdeniz

Aug 28, 2021

The Reserve Bank of India, which has been working for the digital version of the country's official currency for a long time, announced that it will start testing digital currencies

The bank will begin testing the functionality of the digital currency under its control in December.
Apart from theoretical work on a digital version of India's official currency, the rupee, the country also planned to issue a CBDC. India comes to the fore from time to time with the news that it is trying to put pressure on crypto money, like other countries that issue CBDCs.
Indian financial providers have stated that they are cautious about this situation, on the grounds that there is no concrete use step taken on behalf of the CBDC. China is the country that has taken the strongest step regarding the CBDC, and they are also airdropping the digital yuan in some regions and testing the real usage areas.
At the same time, they are trying to provide data on how the digital version of money will affect the country's economy, in order to shed light on the future. Another important issue may be security breaches.
If the digital rupee is started to be used, another question that the central bank attaches importance to.
“Will it use digital rupee centralized or distributed ledger technology?”
The Reserve Bank of India, which is in the process of issuing a model for the CBDC, seems to test the model at the end of the year.

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