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The government first announced its plans for a CBDC in January 2021, but the progress has been sluggish.
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The government first announced its plans for a CBDC in January 2021, but the progress has been sluggish.
The CBDC is seen as the RBI's response to the rapid growth in adoption of private cryptocurrencies among Indian investors.
This development comes 8 months after MediaNama reported how private banks shut off its banking services to crypto exchanges
Predatory loan apps targetting gullible borrowers are thriving in India's unregulated waters, but that may not be for long.
Read the recommendations made by the working group set up by the RBI to study all aspects of digital lending.
Visa's mysterious absence from the central bank's list of SAR compliant entities prompts further questions.
The RBI had imposed these bans after observing that not all payments companies were storing data in India.
The concept was introduced by the RBI to offer flexibility in banking but many payments banks are now running losses.
The court has sought a response from India's largest lender after crypto traders were barred from transferring funds via UPI.
Paytm was fined under India's primary law for payments which arguably needs to be reassessed, according to a report.
