RBI Recommends India Implement Basic Version of CBDC

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In a significant step away from the RBI’s stance up to now in the direction of something cryptocurrency-related, the report says “In its basic form, a central bank digital currency (CBDC), provides a safe, robust, and convenient alternative to physical cash. 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.”