India’s digital currency’s future is closer than we expected, and it’s thrilling

According to the Reserve Bank of India, India’s digital rupee could be ready this year.

The Reserve Bank of India (RBI) said today that the country’s own digital currency will be launched this fiscal year.

The Central Bank Digital Currency (CBDC), according to the RBI’s deputy governor, will have no influence on India’s financial and banking systems.

The CBDC, often known as the “digital Rupee,” was originally announced by the finance minister in the Union Budget for the fiscal year 2022-23, along with a subsequent revision to the RBI Act 1934.