Reserve Bank of India Governor Shaktikanta Das, who is due to step down soon, stated, that the country can completely change its economy with the help of the digital rupee.
The digital rupee pilot project has shown its viability, while other regulators have done nothing to promote national digital currencies and are stuck in the discussion and experimentation stage, the official said.
Shaktikanta Das noted that the digital rupee has enormous potential to transform the economy and essentially embodies the future of the financial system. The head of the regulator expressed confidence that national digital currencies can become a reliable and secure basis for payment systems for domestic and cross-border transactions.
The introduction of the digital rupee will be done in stages so that the economy can properly adapt to it, the official said. In his opinion, the national digital currency will help attract additional funds from investors from other countries and reduce the corruption component in the local economy.
At the same time, the head of the regulator did not indicate a specific time frame for the complete transition to the digital rupee, only mentioning that there is no need to delay this issue.
