RBI’s Board discusses aspects of central bank digital currency

Mumbai: The Central Board of the Reserve Bank of India on Friday deliberated upon various aspects relating to the central bank digital currency and private crypto currencies.

Subhan Bakery - Instagram Commercial

The discussions took place at the 592nd meeting of its Central Board of Directors at Lucknow.

The central bank has been working on modalities for central bank digital currency. However, it has expressed reservations on private cryptocurrencies.

MS Education Academy

Last month, RBI Governor Shaktikanta Das had said that cryptocurrencies are a very serious concern from the macro-economic and financial stability perspective.

Apart from digital currency and cryptocurrency, the board on Friday reviewed the current domestic and global economic situation, evolving challenges and remedial measures, and the half yearly income statement of the RBI.

In addition, the board discussed various areas of operations including the functioning of the local boards, activities of select central office departments, and the draft ‘Report on Trend and Progress of Banking in India, 2020-21’.

Subscribe us on The Siasat Daily - Google News

Indo-Asian News Service

Indo-Asian News Service or IANS is a private Indian news agency. It was founded in 1986 by Indian American publisher Gopal Raju as the "India Abroad News Service" and later renamed. The service reports news, views and analysis from the subcontinent about the country, across a wide range of subjects.
Back to top button