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India CBDC Insider Reveals Current Stance of Country Central Bank
•The Reserve Bank of India is exploring technology as a means to address privacy risks in the use of a potential digital rupee, a senior official said.
•The central bank likely wouldn't object if the government backs away from its crypto taxation, according to the official.
•The RBI may be open to startups getting involved in its CBDC pilot programs in the future.
India central bank is taking a very cautious approach in developing its digital rupee, a senior official familiar with India’s central bank digital currency pilot programs told, it's making some progress.
The Reserve Bank of India is now looking into technology solutions to solve privacy concerns posed by a digital rupee, the official said. While the bank is maintaining a careful stance on crypto, the person said, it wouldn't plan to object if the government decided to reduce a controversial tax that has stifled the crypto industry. The RBI isn’t mandated with legislating taxes.
