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India's Central Bank Urged to Expand Digital Currency Use
11 Sep
Summary
- Finance Minister urged RBI to advance digital currency initiatives.
- Focus on both wholesale and retail central bank digital currencies.
- Call for greater adoption of India's CBDC programs.
Finance Minister Nirmala Sitharaman has formally urged the Reserve Bank of India (RBI) to accelerate the development and adoption of its central bank digital currencies (CBDCs). The directive encompasses both the wholesale and retail segments of the digital currency initiatives.
This call from the Finance Minister highlights a strategic push to enhance the presence and utility of India's digital rupee. The emphasis is on fostering broader acceptance and use of these pioneering digital financial tools across different sectors.
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