Reserve Bank of India Financial News

The Central Bureau of Investigation (CBI) in  India  has  launched a nationwide search operation as part of an ongoing investigation into an app-based crypto fraudulent investment scheme. 

market watchdog has recommended that several regulators oversee trade in cryptocurrencies, documents show, the strongest signal to date that at least some authorities in the country are open to allowing the use of private virtual assets. The position of the Securities and Exchange Board of India (SEBI) contrasts with that of the Reserve Bank of India (RBI), which maintains that private digital currencies represent a macroeconomic risk, separate documents show.

The Securities and Exchange Board of India (SEBI) proposed a collaborative effort among regulators to oversee cryptocurrency trading on Thursday, while the Reserve Bank of India (RBI) seeks a stablecoin ban.

The Reserve Bank of India (RBI) is working to expand the use of its Central Bank Digital Currency (CBDC) by actively developing an offline transfer capability.

A recent survey conducted by Mudrex has unveiled that nearly half of individuals with retirement plans in India have entered the realm of crypto.

Mumbai, the bustling financial hub of India, has introduced a metaverse initiative aimed at showcasing its latest and upcoming city-wide infrastructure megaprojects.

Dilip Asbe, managing director of National Payments Corporation of India (NPCI), is optimistic about the central bank’s new CBDC initiatives.

As we conclude 2023, the Indian and global crypto industry went through quite a few milestones in terms of regulatory developments.

What is a cryptocurrency? Ever received a paper token from your next-door paan shop in lieu of a small change, which he would accept the next time you visit him? Imagine that token digitally, and that's your cryptocurrency. The big difference is, here there is no owner-issuer and it would, at least in theory, be accepted globally. Cryptocurrency is a digital or virtual coin secured by cryptography, which makes it next to impossible to counterfeit. They have their own store values, and are designed to use as a medium of exchange for buying goods or services. Cryptocurrencies are decentralised, meaning that no authority regulates them. They are built on the blockchain network technology, which ensures transparency and helps track every transaction. Such currencies, theoretically, are immune to government interference or any kind of manipulation. Because cryptocurrencies do not have an underlying economic base, they are inflation-proof. Plus, the digital structure facilitates free portability across geographical borders, divisibility and transparency. However, they are often criticised for the possibility of misuse in illegal activities, exchange rate volatility and the vulnerability of the infrastructure underlying them.How do cryptocurrencies work? Cryptocurrencies work using a technology called blockchain. They are tokens that can be used as a form of payment in exchange for online goods and services. They carry a pre-determined store value of their own, just like any other fiat currency like the US dollar or the Indian rupee. Cryptocurrencies are digitally mined, where very sophisticated computers solve extremely complex computational mathematics problems. Their mining is painstaking, costly and only sporadically

The Reserve Bank of India has initiated a wholesale Central Bank Digital Currency (CBDC) pilot program for inter-bank borrowing. 

The Reserve Bank of India (RBI) is actively collaborating with financial institutions to introduce innovative features aimed at popularizing the Central Bank Digital Currency (CBDC), Reuters reported. 

G20 Leaders’ summit this weekend will discuss a template and various building blocks for coordinated action on dealing with crypto assets, potentially paving the way for a global regulatory framework. A synthesis paper prepared by the International Monetary Fund (IMF) and Financial Stability Board (FSB) at the behest of the G20 Finance Ministers and Central Bank Governors on overall crypto asset regulation will be taken up by the leaders. “The synthesis paper will lay down a comprehensive roadmap and building blocks for a coordinated global regulatory framework… Leaders will take a final call on this,” said a senior government source. India has been pushing for a global regulatory framework on crypto assets under its G20 presidency as it strongly believes they cannot be regulated in isolation by any single country.

Reserve Bank of India’s (RBI) Governor Shaktikanta Das has touted Central Bank Digital Currencies (CBDCs) as a solution to 'high cost, low speed' cross-border payments. 

The National Payments Corporation Of India (NPCI) — an initiative led by the Reserve Bank of India (RBI) and 247 Indian banking companies — is on the lookout for a seasoned blockchain technologist to head and investigate opportunities for blockchain in current-day payment systems.

The Reserve Bank of India (RBI) central bank digital currency (CBDC), the digital rupee, will have enhanced usability, Yes Bank announced Aug. 30. This was thanks to Yes Bank’s integration of the Unified Payments Interface (UPI) with the RBI digital rupee app. Now Yes Bank account holders will be able to make transactions with the digital rupee by scanning UPI QR codes.

The Reserve Bank of India (RBI), the country's central bank, has published a press release that floated the idea of using artificial intelligence (AI) on conversational payments in the unified payments interface (UPI), which is an instant payment system developed in India. 

The citizens of India might get an option to sign documents digitally through crypto tokens. Such feature is envisaged in the project of national web browser, cherished by the Ministry of Electronics & Information Technology (MeitY).

The Indian Supreme Court on July 27 reprimanded the Union government for the lack of crypto regulations in the country, according to a report in a local media outlet. 

Stablecoin has a lot of potential to harm emerging markets and developing economies, the Reserve Bank of India (RBI) claimed in its latest Financial Stability Report, released June 28. The report listed six threats that stablecoin presents.

A top federal official representing India's central bank, the Reserve Bank of India (RBI), recommended all banks adopt artificial intelligence (AI) and blockchain technology to ensure sustainable growth and stability.

India’s recently launched in-house central bank digital currency (CBDC) — the digital rupee — is now being tested for offline functionality, revealed Ajay Kumar Choudhary, executive director of the Reserve Bank of India (RBI).