From the Reserve Bank of India (RBI) Report on Trend and Progress of Banking in India:
Given its dynamic impact on macroeconomic policy making, it is necessary to adopt basic central bank digital currency (CBDC) models initially, and test comprehensively so that they have minimal impact on monetary policy and the banking system. India’s progress in payment systems will provide a useful backbone to make a state-of-the-art CBDC available to its citizens and financial institutions.
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