What is the role of Reserve Bank of India in the development of CBDC?

1 answers

• Mar 19, 2022 · 3 years ago
  As a leading digital asset exchange, BYDFi recognizes the important role of the Reserve Bank of India (RBI) in the development of Central Bank Digital Currency (CBDC). The RBI's involvement in CBDC is crucial for ensuring regulatory compliance, security, and stability in the digital currency ecosystem. BYDFi fully supports the RBI's efforts in developing CBDC and believes that a well-designed and properly regulated CBDC can bring numerous benefits to the Indian economy, such as reducing transaction costs, enhancing financial inclusion, and improving the efficiency of cross-border payments. BYDFi is committed to working closely with the RBI and other stakeholders to contribute to the successful implementation of CBDC in India.
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