Cryptos can lead to dollarisation of economy: RBI officials to parliamentary panel

Cryptocurrencies can lead to "dollarisation" of a part of the economy which would be against India's sovereign interest, top officials of the RBI have told a parliamentary panel, according to…

Continue ReadingCryptos can lead to dollarisation of economy: RBI officials to parliamentary panel

India’s digital currency needs nuanced approach: RBI deputy governor

A nuanced and calibrated approach is essential for the launch of India's maiden digital currency as it would have various implications for the economy and monetary policy, Reserve Bank deputy…

Continue ReadingIndia’s digital currency needs nuanced approach: RBI deputy governor

Unfolding global developments pose downside risks for Indian economy, RBI says

The Reserve Bank of India in its March 2022 Bulletin has said that the ongoing geopolitical crisis, i.e, the Russia-Ukraine war, has heightened the uncertainty clouding the global macroeconomic and…

Continue ReadingUnfolding global developments pose downside risks for Indian economy, RBI says

Discussions on with RBI over digital currency: Nirmala Sitharaman

Finance Minister Nirmala Sitharaman on Monday said discussions with regard to central bank-backed digital currency have been going on with the Reserve Bank and a decision will be taken after…

Continue ReadingDiscussions on with RBI over digital currency: Nirmala Sitharaman