RBI’s Board discusses aspects of central bank digital currency

Mumbai : The Central Board of the Reserve Bank of India on Friday deliberated upon various aspects relating to the central bank digital currency and private crypto currencies.
The discussions took place at the 592nd meeting of its Central Board of Directors at Lucknow.
The central bank has been working on modalities for central bank digital currency. However, it has expressed reservations on private cryptocurrencies.
Last month, RBI Governor Shaktikanta Das had said that cryptocurrencies are a very serious concern from the macro-economic and financial stability perspective.
Apart from digital currency and cryptocurrency, the board on Friday reviewed the current domestic and global economic situation, evolving challenges and remedial measures, and the half yearly income statement of the RBI.
In addition, the board discussed various areas of operations including the functioning of the local boards, activities of select central office departments, and the draft ‘Report on Trend and Progress of Banking in India, 2020-21’.