RBI is planning to launch its own digital currency which will be equivalent to Indian rupee valueand will be used for payments.
RBI mentioned that use of digital currency can reduce the costing of printing of fiat currency widely and they can explore more further uses of the technology behind it that is basically blockchain.
A private department meetings are being organised to explore the use of blockchain for the raise of private digital tokens that can be used for payments for its central bank issued digital asset.
On contrary other countries like Venezuela's digital currency petro backed by oil reserves,Iran is also thinking to develop its own digital currency so India is also focusing on such developments on blockchain .
Later RBI officials confirmed that they will launch the digital currency of India named as 'LAKSHMI ' coin which is hindu goddess for wealth .