Share this article
India Could Launch CBDC Trials Later This Year, According to Central Bank Governor: Report
Deputy Governor T. Rabi Sankar said the central bank is studying matters related to security and the broader impact a CBDC would have on monetary policy.
Updated May 11, 2023, 7:02 p.m. Published Aug 27, 2021, 9:34 a.m.
Trials for an Indian central bank digital currency (CBDC) could begin by December, Reserve Bank of India (RBI) Governor Shaktikanta Das said.
- The central bank is studying matters related to security and the broader impact a CBDC would have on monetary policy, Das told CNBC Thursday.
- “I think by the end of the year, we should be able to – we would be in a position, perhaps – to start our first trials,” he said.
- Das said the RBI is exploring whether a digital rupee would harness blockchain technology or use a centralized ledger.
- RBI Deputy Governor T. Rabi Sankar said in July that a digital rupee would reduce the use of cash and protect citizens from the volatility of cryptocurrency.
- Among major economies, China is leading the way in the development of a CBDC. Its digital yuan, or eCNY, has been undergoing trials in various cities around the country for several months.
- South Korea and Sweden appear the next most advanced in developing digital currency after China.
Read more: Jamaica’s Central Bank Says It Would Need Court Order to Track CBDC Transactions
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
Exodus joins stablecoin race with MoonPay-backed digital dollar
The public crypto wallet firm joins Circle and PayPal in issuing stablecoins.
What to know:
- Exodus is launching a fully reserved, USD-backed stablecoin with MoonPay to power self-custodial payments in its crypto wallet app.
- The stablecoin will support Exodus Pay, a new feature enabling users to spend and send digital dollars without relying on centralized exchanges.
- With the launch, Exodus joins a short list of public companies, including PayPal and Circle, backing stablecoin products.
Top Stories
