Reserve bank of India is planning to launch Central Bank Digital Currency (CBDC) in the near future. Deputy Governor T Rabi Shankar said, RBI is currently working towards a phased implementation strategy and examining use cases which could be implemented with little or no disruption. Conducting pilots in wholesale and retail segments may be a possibility in near future. He was speaking in a webinar organised by the Vidhi Centre for Legal Policy, New Delhi.
High Level Inter-Ministerial Committee constituted by Ministry of Finance in November 2017 to examine the policy and legal framework for regulation of virtual currencies had recommended the introduction of CBDC.