What will happen if india will release their own digital currency

[Am139]

There is a lot of speculation going on after the budget 2021.

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[iamsheikhadil]

Well, I don't think they will launch any sort of crypto coin officially atleast in this decade, the main priority of the central as well as state governments is the covid pandemic and healthcare sector, so yeah, that will be where they will spend most time on. But on parallel, it seems they have taken a anti-crypto stand kind of so far, maybe they will launch a stable coin like digital USD but idk if any of their newly launched coin is going to do good for the country, or will be able to compete with the existing coins

[UKprod]

The inter-ministerial committee in its report in 2019 did recommend that RBI should introduce its own Central Bank Digital Currency and said that all other cryptocurrencies should be banned. However, currently the government seems to have lost track of the CBDC and doesnt seem to have any intention of implementing it right now. We could see some of it in 2022. Regarding banning also government officials have contrary stand and may need some clarity before they ban.

You can read my article on this here: https://bitcointalk.org/index.php?topic=5339221.msg57065554#msg57065554

[airdata]

There is a lot of speculation going on after the budget 2021.

From Past two year, i heard that India will lounch their own Digital crypto currency, and they will banned all cryptocurrency nowadays they say that they will banned all private crypto currency, sometime they said that only indian exchange will accepted and all international exchange will banned from India, i don’t what is the main opinion of indian Government.                         

[Frengki_cisco]

There is a lot of speculation going on after the budget 2021.

Other countries have done it, few crypto users are interested in digital currency, there is a reason for that the price is stable and never a cornerstone of investment, if the indian government did that it would be fine but i think many don't care about local digital currency.

[Andrik Viate]

Yes, India is going to release its own digital currency. The point is that it will be more likely to work like a stable coin. So will this stablecoin be backed by government assets or just work like they print Indian currency in paper format?