On December 10, 2024, Shaktikanta Das gave his farewell speech as the Governor of the Reserve Bank of India (RBI). But instead of just looking back at his six years in office, he focused on a bold vision for India's future — a future where the country’s economy could be powered by a home-grown digital currency known as the digital rupee.
Das believes that the digital rupee, or central bank digital currency (CBDC), has the potential to change the way India’s financial system works, possibly even replacing paper money. According to him, CBDC is the future of currency. During his speech, Das explained how, over the years, he worked to push India to the forefront of new technologies, including launching important projects like the RBI Innovation Hub in Bengaluru and a regulatory sandbox to support fintech (financial technology) startups.
The digital rupee is India’s answer to the growing trend of central banks around the world exploring CBDCs. Many countries have just begun disc...
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