Need to ensure safety of CBDCs before introduction: RBI Governor

The main concern comes from the angle of cyber security and possibility of digital frauds, which merits more care before it is introduced, said RBI governor Shaktikanta Das

Reserve Bank of India (RBI) is in advanced stage of introducing its version of central bank digital currency (CBDC), but is proceeding with caution to make sure security risks are addressed first. 

The main concern comes from the angle of cyber security and the possibility of digital frauds, which merits more care before it is introduced, RBI governor Shaktikanta Das said on Wednesday in a post-policy press conference. 

"Just as a few years ago the major concern was fake Indian currency notes, similar things can also happen when we are launching CBDC,” said the RBI governor. 

“In the CBDC universe,