Digital Rupee soon: Digital currency trials to start by December says RBI Governor

In a big move towards the digital token acceptance, the biggest skeptic of the technology RBI is looking to launch trials of the digital rupee by the end of this year as per reports.

RBI is aiming at starting trials for the digital currency by December said central bank governor Shaktikanta Das to CNBC in an interview. The banking regulator stated “We are being extremely careful about it because it’s completely a new product, not just for RBI, but globally.”

The RBI who had looked at putting a complete stop to the crypto trade in India in 2018 is now looking at the blockchain bet by having a centralized ledger for the digital currency or the so-called distributed ledger technology (DLT).

Central banks across the globe from China, Europe and the U.K. are exploring digital currencies or CBDCs that would be issued by them to have some 'control' on the fast growing digital token trade.

Also watch: Get your wallets ready for Digital Rupee