{"id":10712,"date":"2021-08-09T15:54:09","date_gmt":"2021-08-09T15:54:09","guid":{"rendered":"https:\/\/www.buyucoin.com\/crypto-labs\/india-plans-to-unveil-central-bank-digital-currency-model-by-year-end\/"},"modified":"2021-08-09T15:54:09","modified_gmt":"2021-08-09T15:54:09","slug":"india-plans-to-unveil-central-bank-digital-currency-model-by-year-end","status":"publish","type":"post","link":"https:\/\/www.buyucoin.com\/crypto-labs\/india-plans-to-unveil-central-bank-digital-currency-model-by-year-end\/","title":{"rendered":"India Plans to Unveil Central Bank Digital Currency Model by Year End"},"content":{"rendered":"<p><strong>The deputy governor of India\u2019s central bank, the Reserve Bank of India (RBI), says the bank should be able to come up with a central bank digital currency (CBDC) model by the end of this year.<\/strong><\/p>\n<h2>India May Unveil a CBDC Model by Year End<\/h2>\n<p>The Reserve Bank of India (RBI) may unveil a model of a central bank digital currency (CBDC) by the end of the year, Deputy Governor T. Rabi Sankar said Friday at the post-Monetary Policy Committee (MPC) press conference.<\/p>\n<p>Without providing further details, he described:<\/p>\n<p>These are extremely evolving technologies and business choices that one has to make, and therefore it\u2019s difficult to put a date, but we should be able to come up with a model in the near future, probably by the end of this year.<\/p>\n<p>The deputy governor continued: \u201cWe are evaluating the issue of scope, technology, distribution and validation mechanism etc.\u201d<\/p>\n<p>Last month, he <a href=\"https:\/\/news.bitcoin.com\/indias-central-bank-rbi-launch-digital-currency-in-phases\/\">revealed<\/a> that the central bank was working on a \u201cphased implementation strategy\u201d for India\u2019s CBDC and also \u201cexamining use cases which could be implemented with little or no disruption to India\u2019s banking or monetary systems.\u201d<\/p>\n<p><!-- growjs zone placement 31 -->    <!-- end of growjs zone placement --> <\/p>\n<p>According to a recent report, 81 countries, representing over 90% of global GDP, are <a href=\"https:\/\/news.bitcoin.com\/81-countries-central-bank-digital-currencies-5-cbdcs-fully-launched\/\">exploring<\/a> launching their own central bank digital currencies.<\/p>\n<p>Meanwhile, the International Monetary Fund (IMF), the World Bank, and the Bank of International Settlements (BIS) <a href=\"https:\/\/news.bitcoin.com\/imf-world-bank-bis-recommend-countries-cbdcs-enhance-cross-border-payments\/\">say<\/a> CBDCs \u201chave the potential to enhance the efficiency of cross-border payments, as long as countries work together.\u201d<\/p>\n<p><em><strong>What do you think about India launching a central bank digital currency? Let us know in the comments section below.<\/strong><\/em><\/p>\n<p>Bitcoin News<br \/>\nRegulation, CBDC, india cbdc, india central bank digital currency, indian cbdc, innovation offshore, mike lee bitcoin, mike lee crypto, mike lee cryptocurrencies, rbi cbdc, senator mike lee, utah senator<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The deputy governor of India\u2019s central bank, the Reserve Bank of India (RBI), says the bank should be able to come up with a central bank digital currency (CBDC) model by the end of this year. India May Unveil a CBDC Model by Year End The Reserve Bank of India (RBI) may unveil a model&hellip;<\/p>\n","protected":false},"author":0,"featured_media":10713,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[53,3],"tags":[],"class_list":["post-10712","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blockchain-news","category-coin-news"],"_links":{"self":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts\/10712"}],"collection":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/comments?post=10712"}],"version-history":[{"count":0,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts\/10712\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/media\/10713"}],"wp:attachment":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/media?parent=10712"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/categories?post=10712"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/tags?post=10712"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}