The Reserve Bank of India may bring a digital currency model by the end of this year. Central Bank Deputy Governor T Ravishankar said this on Friday.
After the monetary review, Shankar said, “The date of the introduction of digital currency is difficult to say. We will probably come up with a model by the end of this year.”
Earlier, on July 22, Shankar had said India was looking at digital currency in a phased manner. It’s the right time for that. China has already begun to use digital currency as an experiment. At the same time, the Bank of England and the Central Bank of America are also considering it.
At the same time, Reserve Bank Governor Shaktikanta Das has made it clear that the central bank is constantly concerned about private digital currency and has informed the government about it.
There is no change in the repo rate, customers have to wait for a solution in the loan EMI
Let us tell you that the work of the central bank’s digital currency has been going on for many years. Private cryptocurrencies such as Bitcoin are very popular at this time, based on blockchain technology.
