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India Eyeing Phased Roll Out of Central Bank Digital Currency

  • Deputy governor says digital currency will be on par with cash
  • Sankar says CBDC will counter volatility of private currencies

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The Reserve Bank of India is considering a “phased introduction” of a central bank digital currency as it will need legal changes to be made in the nation’s foreign-exchange rules and information-technology laws, Deputy Governor T. Rabi Sankar said.