The Reserve Bank of India will release its version of Central Bank Digital Currency (CBDC)
It will be done in a phased manner, carefully considering all aspects
RBI will check CBDC’s potential effect on deposit mobilisation abilities of banks, and the conduct of the monetary policy
Pilots in wholesale and retail segments may be a future possibility
RBI has been exploring its pros and cons for some time
The Central Bank will draw lessons from other countries
The advent of private digital currencies such as bitcoin encouraged RBI to look into the matter
