Pilot launch of RBI digital currency set for Q1 of FY23: Senior official

RBI is checking if intermediaries can be bypassed totally, and is also exploring the level of centralisation or decentralisation of the technology

Reserve Bank of India’s (RBI) central bank digital currency (CBDC) may see its first pilot launch in the first quarter of the next fiscal, said a senior central bank official at the State Bank of India’s annual Banking & Economic Conclave on Wednesday.

“I think somewhere it was said that at least by the first quarter of next year a pilot could be launched. So we are bullish on that,” said P Vasudevan, chief general manager at the Dept. of Payment & Settlement of the RBI.

The central bank senior officials had earlier said the work