MUMBAI (Reuters) – India’s finance minister on Tuesday mentioned the central bank will introduce a digital forex within the subsequent monetary 12 months utilizing blockchain and different supporting expertise.
“Introduction of a central bank digital forex will give an enormous increase to digital economic system. Digital forex may also lead to a extra environment friendly and cheaper forex administration system,” Nirmala Sitharaman mentioned on Tuesday whereas presenting the federal price range.
India’s central bank has voiced “severe considerations” round non-public cryptocurrencies on the grounds that these might trigger monetary instability.
(Reporting by Nupur Anand; Editing by Euan Rocha)
