''I think central banks would go about it in a very calibrated, graduated manner,” said RBI’s deputy governor about India’s CBDC. crypto cryptocurrency
that the digital rupee will be the digital form of India’s physical rupee and will be regulated by the RBI. “The digital rupee will revolutionize the fintech sector,” he said.
Emphasizing that central banks should “do no harm” when introducing any new technologies, he said: ”I think central banks would go about it in a very calibrated, graduated manner, assessing impact all along the line and then making those connections with what is most demanded.” Deputy Governor Sankar explained that CBDCs could affect the transactional demand for deposits in the Indian banking system. He detailed that if that happens, “the deposit creation would get affected negatively and to that extent the ability to create credit by the banking system also goes down.” He added:
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