BS BFSI Insight Summit: Introduce a digital currency soon, says Garg

The crypto platforms are indeed the future, said Garg, who once headed an inter-ministerial committee on cryptocurrencies

The Reserve Bank of India (RBI) must expedite the floating of the central bank digital currency (CBDC) or should collaborate with other nations for an international digital currency, and not let the digital dollar be the effective digital currency of the world, said former finance secretary Subhash Chandra Garg.

Garg was the keynote speaker on day two of Business Standard’s BFSI Insight Summit. He was part of a discussion whether it’s time to say yes to cryptocurrencies.

The former finance secretary was of the opinion that digital currencies are indeed the future, and the technology is robust, but he expressed