According to Cointelegraph, former Reserve Bank of India Governor Shaktikanta Das shared his vision for a digital rupee when he stepped down, believing it could transform the Indian economy.
In his farewell speech, Das mentioned that he promoted the adoption of new technologies during his six years in office, including setting up an innovation center and a fintech regulatory sandbox in Bengaluru.
He pointed out that many central banks are still in the preliminary discussion stage of CBDC, while the Reserve Bank of India has taken the lead in launching a CBDC pilot project.
Das expressed optimism about the future of India's CBDC, believing that it has the potential to replace the paper economy and is the future of currency.
Previously, the Reserve Bank of India planned to add new trading partners in Asia and the Middle East to expand its cross-border payments platform.
Das had suggested that before a full-scale CBDC rollout, user data should be generated through pilots to understand its impact on users and monetary policy.