Private partners could help RBI run a digital currency4 min read 28 Jul 2021, 10:05 PM IST
RBI can set up the core CBDC system and let the private sector manage customer-facing operations
Recently, a deputy governor of the Reserve Bank of India (RBI) announced that RBI is working on a “phased implementation strategy" for the issuance of a central bank digital currency (CBDC), including a possible pilot project in the retail segment. A retail CBDC is a digital version of a fiat currency that’s available to the general public. It will be part of the payments ecosystem, which already consists of banks and payment service providers (PSPs). One significant issue in the design of a retail CBDC is the role of the private sector.
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