Digital Currency: RBI Governor's big announcement on CBDC, said on inflation - 'Keeping an eye on Arjun'

Posted on 2nd Nov 2022 by rohit kumar

Reserve Bank of India Governor Shaktikanta Das has said that yesterday itself we started the trial of Central Bank Digital Currency (CBDC). The Governor of the Reserve Bank said that this will prove to be a historic achievement as the functioning of the entire economy is linked to it. The Reserve Bank is one of the very few central banks in the world to have taken this initiative on its behalf. We will try to launch a full-fledged CBDC shortly. The retail part of the CBDC trial will be launched later this month. After that, the CBDC will be launched on a full scale. RBI Governor said that digital currency is something where we have to proceed very carefully.

 

RBI is keeping 'Arjun's eye' on inflation, says Governor Shaktikanta Das

 

The RBI governor, while speaking at the annual FIBAC conference of bankers, defended the actions of the central bank so far and said, "We have prevented a complete collapse of the economy by keeping rates low and refrained from taking premature tightening." The Indian economy is growing rapidly and gaining strength from its macroeconomic fundamentals and buffers. According to the IMF, India is one of the fastest-growing major economies. We are monitoring the inflation trend. Our endeavor to keep 'Arjun's eye' on inflation continues unabated.

 

Also Read: RBI launches pilot digital currency: No need to keep cash, CBDC wholesale starts with 9 banks

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