Indian CBDC insider reveals the country’s central bank’s current stance

The Reserve Bank of India (RBI) is currently exploring technological solutions to address privacy concerns posed by the digital rupee, officials said. The bank said it remains cautious on cryptocurrencies but has no plans to oppose it if the government decides to cut controversial taxes that are stifling the industry. Since the RBI has no obligation to levy taxes, the decision is outside the purview of the RBI. However, the central bank overstepped its role before banning cryptocurrencies, so its apparent willingness to back off on the topic is noteworthy.