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The government continues to hold deliberations while India's unregulated, burgeoning crypto industry watches closely.
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The government continues to hold deliberations while India's unregulated, burgeoning crypto industry watches closely.
It gives a chance for central banks to examine the use cases for their respective digital currency, prior to full rollout.
With this move, the central bank looks to keep up with innovation in the fintech sector while staying wary of Big Tech.
But ground rules set up by the RBI reveal that not everyone will be allowed to provide the offline service.
Why the RBI is worried about stablecoins, what's the latest with Tumblr, and more.
India's central bank has two types of CBDCs in the works, and the government is preparing a legal framework for them.
Addressing concerns regarding transaction fees and inclusivity of digital payments is crucial, but payment frauds go hand-in-hand with growth in digital payments.
More robust, efficient, trusted, regulated and legal tender-based payments option is one among the many benefits of CBDC according to Finance Ministry.
In terms of both the number of frauds and the amount involved in such frauds, Maharashtra exceeds all other states.
Predatory loan apps targetting gullible borrowers are thriving in India's unregulated waters, but that may not be for long.
