The demand for cryptocurrencies is increasing all over the world. Cryptocurrencies have been recognized in European countries. Not only this, Elon Musk, the world’s richest person and creator of Tesla car, has already accepted the fact of accepting payment in bitcoin. In such a situation, now indications are being given by the Government of India to enter the crypto world. Talking about some indications received by the Reserve Bank of India, it is believed that the digital currency may be launched by the Reserve Bank next year. For this, RBI is currently making a plan. All this information was given by a high official of the Central Bank in the Banking and Economic Conclave of State Bank of India.
According to an interview given to a news paper by RBI official P. Vasudev, the digital currency may be launched next year under the first tri-monthly pilot project. About which RBI is very keen. In the first quarter of next year itself, it is believed that the RBI will launch the Central Bank Digital Currency (CBDC), which will be the digital form of the Indian currency itself. After this, there is a possibility of its soft launch by December next year. However, no deadline has been issued for it yet.
Meanwhile, in the Sydney Dialogues on Thursday, PM Modi made a statement on cryptocurrency. Modi cautioned the world against the use of cryptocurrencies. Expressing concern about this, Modi said that it should be ensured that cryptocurrencies do not fall into the wrong hands. It will be interesting to see how the youth in particular use this mudra. Modi also expressed concern that the world may have to pay a heavy price if it falls into the wrong hands. Two days ago, RBI Governor Shaktikanta Das also advised to be cautious about the use of bitcoin. The statements of Modi and Das show that India is still concerned about cryptocurrencies. Digital currency cannot be ignored but India is conscious of its use. So India is being very precise before launching its digital currency.