Some news I just saw on Bitcoin .com , interesting to follow.
"The Reserve Bank of India released its annual report for 2021-22 Friday. India’s central bank digital currency (CBDC) is among the many topics discussed in the report."
“The design of CBDC needs to be in conformity monetary policy, financial stability and efficient operations of currency and payment systems,” the report details, elaborating:
"The Reserve Bank proposes to adopt a graded approach to introduction of CBDC, going step by step through stages of proof of concept, pilots and the launch."
Reserve Bank Of India Annual Report 2022
https://rbidocs.rbi.org.in/rdocs/AnnualReport/PDFs/0RBIAR2021226AD1119FF6674A13865C988DF70B4E1A.PDF
P36
I.43 "The Reserve Bank is engaged in the
introduction of a central bank digital currency
(CBDC) in India. The design of CBDC needs
to be in conformity with the stated objectives of
monetary policy, fi nancial stability and effi cient
operations of currency and payment systems.
The Reserve Bank proposes to adopt a graded
approach to introduction of CBDC, going step by
step through stages of Proof of Concept12, pilots
and the launch."
P162
VI.74 "The Reserve Bank has been exploring the
pros and cons of introduction of CBDC in India.
The design of CBDC needs to be in conformity
with the stated objectives of monetary policy,
financial stability and efficient operations of
currency and payment systems. Accordingly, the
appropriate design elements of CBDCs that could
be implemented with little, or no disruption are
under examination. The introduction of CBDC has
been announced in the Union Budget 2022-23 and
an appropriate amendment to the RBI Act, 1934
has been included in the Finance Bill, 2022. The
Finance Bill, 2022 has been enacted, providing a
legal framework for the launch of CBDC."
P163
Agenda for 2022-23
VI.78 "In 2022-23, the Department will focus on
the following goals:
• Implementation of the roadmap laid down
by ‘Vision and Strategy Document on
FinTech’ (Utkarsh);
• Exploring policy framework for digital
banking, FinTech and BigTechs;
• Phased introduction of CBDC (Utkarsh);
• Facilitating setting up of 75 digital banking
units in 75 districts of the country; and
• Ensuring execution of key projects of
importance through the Reserve Bank
Innovation Hub."