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Why RBI thinks India should go for basic models of central bank digital currency
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livemint.comThe Reserve Bank of India (RBI) on Tuesday said India must go for basic models of central bank digital currency initially given its dynamic impact on microeconomic policy.
In its report released on 'Trend and Progress of Banking in India 2020-21', the RBI said in its basic form, a central bank digital currency (CBDC) provides a safe, robust, and convenient alternative to physical cash.
"Depending on various design choices, it can also assume the complex form of a financial instrument. In comparison with existing forms of money, it can offer benefits to users in terms of liquidity, scalability, acceptance, ease of transactions with anonymity and faster settlement," the RBI said
RBI further added that Central banks across the globe are now
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