HomeBusinessIndia's Finance Minister says central bank to launch digital cryptocurrency

India’s Finance Minister says central bank to launch digital cryptocurrency

MUMBAI : India’s finance minister on Tuesday mentioned the central bank will introduce a digital forex within the subsequent monetary 12 months utilizing blockchain and different supporting know-how.

“Introduction of a central bank digital currency will give a big boost to digital economy. Digital currency will also lead to a more efficient and cheaper currency management system,” Nirmala Sitharaman mentioned on Tuesday whereas presenting the federal finances.

India’s central bank has voiced “serious concerns” round non-public cryptocurrencies on the grounds that these could trigger monetary instability.

(Reporting by Nupur Anand; Editing by Euan Rocha)

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