A spokesman for the Indian central bank announced that the RBI plans to come up with a proposal to create a digital rupee that will be used by financial institutions as a settlement tool, and will also allow you to repay short-term loans and take out loans.
The RBI noted that the introduction of wholesale CBDC will simplify and modernize the process of short-term borrowing and lending among banks. RBI’s vision is that CBDC complements traditional forms of money transfer and settlement, leading to a significant acceleration of interbank payments.
Earlier, Reserve Bank of India Governor Shaktikanta Das spoke at the G20 TechSprint event, where he said that with the widespread adoption of government stablecoins, international payments can become safer, faster and more economical.
Source: Bits
I am an experienced journalist, writer, and editor with a passion for finance and business news. I have been working in the journalism field for over 6 years, covering a variety of topics from finance to technology. As an author at World Stock Market, I specialize in finance business-related topics.
