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According to a booklet on payments released today by the RBI, the bank is “exploring the possibility as to whether there is a need for a digital version of fiat currency.” The bank added that if it found a need, it would look into ways to put digital currency into use.
Such a large bank developing a digital currency could easily further crypto adoption in India and beyond. The RBI reported that there has been an “exponential growth of digital payments” in the country with a 12.5% and 43% increase of volume and value, respectively, since 2011. The bank added that it may expand adoption by targeting “the generation which is most responsive to technology and digital age” — people born between 1982 and 2004.
https://cointelegraph.com/news/reserve-bank-of-india-exploring-the-possibility-of-a-digital-currency
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