 "e-rupee, digital currency")
After observing an environment in which the evolution of private currencies posed a threat to investors, systems, and the economy, the Reserve Bank of India felt that the manner to deal with it was to provide a digital currency, Deputy Governor T. Rabi Sankar said.
His comments came two days after the central bank launched a pilot project for retail CBDC (central bank digital currency).
“We saw an environment where private currencies were evolving. We realised that this poses a threat to investors, systems, and the economy. We also realised that private currencies have shown that digitalising currency can possibly benefit,” Sankar
