Reserve Bank of India mulls interbank call market to be traded via CBDCs
The Reserve Bank of India (RBI) has big plans for digital currencies but at a slow and steady pace. Banking sources told CNBC-TV18, that the immediate next step for the RBI is to get the interbank call market to be traded via CBDCs.
The Reserve Bank of India (RBI) has big plans for digital currencies but at a slow and steady pace.
Banking sources told CNBC-TV18, that the next step for the RBI is to get the interbank call market to be traded via CBDCs.
The central bank on October 31, 2022, had launched the first pilot of digital rupee in the wholesale segment and identified nine banks to participate. The nine lenders included State Bank of India, Bank of Baroda, Union Bank of India, HDFC Bank, ICICI Bank, Kotak Mahindra Bank, Yes Bank, IDFC First Bank and HSBC.
The RBI may also look at tokenising bonds to enable buying and selling of corporate bonds through CBDC.
On the retail front, the central bank is considering allowing digital currencies to be used for transactions even without being linked to a bank account.
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