India cenbank plans to widen use of wholesale digital currency

Market News

NEW DELHI, Sept 5 - The Reserve Bank of India is planning to introduce wholesale a central bank digital currency in the call money market, an official told reporters.

“RBI is now planning to go interbank borrowing market, specifically call money market,” the official said.India’s CBDC is currently in a pilot phase across the retail and wholesale segments. The central bank has set a target of one million transactions a day by the end of 2023.

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