Indian CBDC pilot trials may commence in December : RBI governor

Indian RBI governor confirmed that Indian CBDC has lots of chances to start it’s trial by the end of 2021. 

While the Reserve Bank of India ( RBI) always took action against the Crypto companies to retard their business so that people could not buy crypto assets easily. But still they are also aware about the potential of blockchain technology, so government authorities are working on bringing India central bank Digital Currency.

On 26 August Shaktikanta Das, RBI governor, talked to CNBC and said that the Indian central bank is ” being extremely careful” with the potential of Digital Indian Rupee. Right now they are analyzing the digital central bank Digital Currency adoption in every way. 

According to Shaktikanta Das, The Reserve Bank of India is taking all types of possibilities into consideration to bring Digital Rupee. They are estimating the potential of Digital Rupee under the Indian Monetary policies. 

Shaktikanta also talked about the technical aspects of the digital rupee. He said that RBI was weighing the advantages of the utilisation of CBDC under Centralised & non-centralized mode.

Through the statement of the Shaktikanta, it seems that trials for the CBDC pilot will start in December of 2021. 

He stated 

“I think by the end of the year, we should be abltoto……Weould be in a position, perhaps to start our first trials.”

Well here we can hope that Indian government authorities not only work on the adoption of blockchain technology but also they should work on bringing a regulation framework for the crypto market.

On Wednesday, the former RBI governor said that Cryptocurrencies have a potential future.

Read also: Cryptocurrencies have a ‘potential future’ : Former Indian RBI Governor