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RBI Is Assessing Digital Rupee's Impact on Financial Stability, Says Governor Shaktikanta Das
The RBI is examining the impact of the digital rupee on the financial stability in the economy.
Updated Sep 14, 2021, 12:31 p.m. Published Mar 25, 2021, 8:54 a.m.
The Reserve Bank of India (RBI) is examining the impact of the digital rupee on the country's financial stability.
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"While we are working on introducing the digital version of the fiat currency, RBI is also assessing the financial stability implications of introducing CBDC," Das said on Thursday during his speech at the Indian Economic Conclave 2021, according to The Indian Express.
The governor added that the central bank has conveyed its concerns regarding cryptocurrencies to the Indian government, which is planning to table a bill in the parliament seeking to ban private cryptocurrencies and facilitate the development of the RBI's digital rupee. "The matter is still under examination, and the government will come out with a decision on it," Das said.
Also read: India May Block IP Addresses of Crypto Exchanges: Report
The central bank prohibited commercial banks from providing banking services to cryptocurrency traders and exchanges in April 2018. However, that ban was overruled by the Supreme Court of India in March last year, to the relief of exchanges servicing Indian clients.
While both the RBI and the government appear biased against private cryptocurrencies, prominent technocrats such as tech-giant Infosys' non-executive Chairman Nandan Nilekani have said they believe cryptocurrencies should be considered a separate asset class.
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KuCoin captured a record share of centralised exchange volume in 2025, with more than $1.25tn traded as its volumes grew faster than the wider crypto market.
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- KuCoin recorded over $1.25 trillion in total trading volume in 2025, equivalent to an average of roughly $114 billion per month, marking its strongest year on record.
- This performance translated into an all-time high share of centralised exchange volume, as KuCoin’s activity expanded faster than aggregate CEX volumes, which slowed during periods of lower market volatility.
- Spot and derivatives volumes were evenly split, each exceeding $500 billion for the year, signalling broad-based usage rather than reliance on a single product line.
- Altcoins accounted for the majority of trading activity, reinforcing KuCoin’s role as a primary liquidity venue beyond BTC and ETH at a time when majors saw more muted turnover.
- Even as overall crypto volumes softened mid-year, KuCoin maintained elevated baseline activity, indicating structurally higher user engagement rather than short-lived volume spikes.
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Dogecoin, PEPE rocket as much as 25% as 2026 starts with a bang for memecoins
The broader meme coin market is heating up, with CoinGecko's GMCI Meme Index showing a market value of $33.8 billion and a trading volume of $5.9 billion.
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- Dogecoin and Pepe led a significant meme coin rally, with Dogecoin rising 11% and Pepe surging 17% in a single day.
- The broader meme coin market is heating up, with CoinGecko's GMCI Meme Index showing a market value of $33.8 billion and a trading volume of $5.9 billion.
- Traders are speculating on meme coins as a high-risk, high-reward opportunity amid uneven liquidity and a lack of clear macroeconomic catalysts.
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