RBI wants digital currency included under definition of 'bank note': FinMin

RBI is working out a phased implementation strategy for introduction of Central Bank Digital Currency with little or no disruption

RBI, Reserve Bank of India
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BS Web Team New Delhi
The Ministry of Finance informed the Lok Sabha on Monday that it has received a proposal from Reserve Bank of India in October for an amendment to the RBI Act, 1934 to enhance the scope of the definition of ‘bank note’ to include currency in digital form.

RBI is working out a phased implementation strategy for introduction of Central Bank Digital Currency with little or no disruption, said Pankaj Chaudhary, Minister of State in the Ministry of Finance, in a written reply.

"Central Bank Digital Currency (CBDC) is introduced by a Central Bank. Government has received a proposal from Reserve Bank of

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First Published: Nov 29 2021 | 1:31 PM IST

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