India: Indian Central Bank Digital Currency (CBDC)
Progress
Current status
in force
01 Nov 2022 in force
07 Oct 2022 under deliberation
Scope
Implementers
India
Policy Area
Authorisation, registration and licensing
Policy Instrument
Authorisation of goods or services
Regulated Economic Activity
digital payment provider (incl. cryptocurrencies)
Government Branch
executive
Government Body
other regulatory body
Implementation Level
national
Timeline of events
Launch of Central Bank Digital Currency Wholesale Pilot
On 1 November 2022, the Reserve Bank of India (RBI) launched a pilot for a Central Bank Digital Currency (CBDC) Wholesale in India (e₹-W). In the first part of the pilot, the digital rupee will be used for government securities when conducting secon…
SourceEvent type
order
Action type
implementation
Government branch
executive
Government body
other regulatory body
Published Concept Note on a Central Bank Digital Currency (CBDC) for India
On 7 October 2022, the Reserve Bank of India released a Concept Note on a Central Bank Digital Currency (CBDC) for India. The purpose of the document is to explain the objectives, benefits and risks of introducing a CBDC in India, called “e₹” (digit…
SourceEvent type
order
Action type
announcement
Government branch
executive
Government body
other regulatory body