Login Register
Follow Us

No plan to introduce cryptocurrency: Govt

Show comments

New Delhi, March 15

There is no plan to introduce cryptocurrency by the government, Minister of State for Finance Pankaj Chaudhary informed the Rajya Sabha on Tuesday. Currently, cryptocurrencies are unregulated in India, he said in a written reply.

“RBI does not issue cryptocurrency. Traditional paper currency is a legal tender and is issued by RBI in terms of provisions of RBI Act, 1994. A digital version of traditional paper currency is called Central Bank Digital Currency (CBDC),” he said.

RBI is currently working towards a phased implementation strategy for introduction of CBDC and examining use cases which could be implemented with little or no disruption, he said in another reply. — PTI

Digital currency on cards

  • RBI is currently working towards a phased implementation strategy for introduction of Central Bank Digital Currency (CBDC), Minister of State for Finance Pankaj Chaudhary said
  • Introduction of CBDC has the potential to provide significant benefits such as reduced dependency on cash, higher seigniorage due to lower transaction costs, he added

#cryptocurrency

Show comments
Show comments

Trending News

Also In This Section


Top News


View All

Amritsar: ‘Jallianwala Bagh toll 57 more than recorded’

GNDU team updates 1919 massacre toll to 434 after two-year study

Meet Gopi Thotakura, a pilot set to become 1st Indian to venture into space as tourist

Thotakura was selected as one of the six crew members for the mission, the flight date of which is yet to be announced

Diljit Dosanjh’s alleged wife slams social media for misuse of her identity amid speculations

He is yet to respond to the recent claims about his wife

India cricketer Hardik Pandya duped of Rs 4.3 crore, stepbrother Vaibhav in police net for forgery

According to reports, Vaibhav is accused of diverting money from a partnership firm, leading to financial loss for Hardik and Krunal Pandya


Most Read In 24 Hours