RBI went beyond just housekeeping with some bold moves in 2022

It's a landmark achievement, so far as the functioning of the economy is concerned: RBI Governor on CBDC

Innovation to the fore

The class act of calendar 2022 was the Reserve Bank of India’s (RBI’s) move to introduce the Central Bank Digital Currency (CBDC). In the trial phase for both the wholesale and retail segments, CBDC is legal tender issued by a central bank in digital form. “It’s a landmark achievement so far as the functioning of the economy is concerned,” said Governor Shaktikanta Das.

As Deputy Governor T Rabi Sankar pointed out in July this year, “it is conceivable for an Indian importer to pay its American exporter on a real-time basis in digital dollars, without the need of