The Reserve Bank of India (RBI) on Thursday said that it is looking at the possibility of introducing a 'central bank digital currency'. Briefing the media at the end of the two-day meeting of Monetary Policy Committee (MPC) of the RBI, Deputy Governor B P Kanungo said, "While many central banks are still engaged in the debate, an inter-departmental group has been constituted by the Reserve Bank to study and provide guidance on the desirability and feasibility to introduce a central bank digital currency." The report will be submitted by end-June 2018, he added.
This is after RBI has given out repeated warnings to Indian citizens to refrain from indulging in cryptocurrencies. This is the most confusing piece of news I have read in recent times. Even in this statement they have "directed banks and regulated entities not to deal with or provide services to individuals or businesses dealing in virtual currencies". Either banks and governments are totally confused how to deal with crypto or they are deliberately moving to outlaw it.
Read more here:
https://m.timesofindia.com/business/india-business/rbi-may-introduce-its-own-version-of-digital-currency/amp_articleshow/63627093.cms
