The Digital Rupee — Is India Ready for the Next Wave of Digital Payments?

Source: Money Control

Going forward, it is critical for India to build an accessible, inclusive and resilient payment system that can withstand sustained shocks in the aftermath of the COVID-19 crisis.

The debate on central bank digital currencies (CBDCs) is heating up. The reference to a ‘digital dollar’ in an early draft of a United States legislation for the $2 trillion financial stimulus package announced to fight the impact of COVID-19, and reports of China’s impeding deployment of the world’s first zcurrency, the digital yuan, has propelled this debate.

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