Monetary policy: RBI cautious on CBDC; cap on e-RUPI vouchers at Rs 1L

In line with the Budget announcement, RBI governor Shaktikanta Das said that central bank digital currency (CBDC) will be launched in the next fiscal year

In line with the Budget announcement, Reserve Bank of India (RBI) governor Shaktikanta Das on Thursday said that central bank digital currency (CBDC) will be launched in the next fiscal year (FY23) but refrained from giving a specific timeline for the same. Once the government amends the RBI Act to enable issuance of CBDC, the central bank will carry out pilots for the same.

In the post-policy meeting with the media, Das said, “We should not hurry hence we are proceeding carefully and cautiously given the risks associated such as cyber security. This is a new product and all global central