Indian central bank-backed NPCI begins blockchain recruitment
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 look out for a seasoned blockchain technologist to head and investigate opportunities for blockchain in current-day payment systems.NPCI owns ...
Digital rupee gets big usability boost through Yes Bank integration with UPI
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 w ...
Indian Supreme Court raps Union government on crypto rules delay: Report
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. The Supreme Court in its observation noted that it is “unfortunate” that the government has yet to release any clear g ...
RBI lists risks of stablecoins for developing economies, calls for global regulation
Stablecoins have 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 stablecoins present.The RBI has been a steadfast critic of cryptocur ...
De-dollarization: Is it really happening?
De-dollarization, the decline of the United States dollar as the world’s dominant reserved currency, is underway, and it’s gaining momentum. For over 100 years, the U.S. dollar has been the world reserve currency, which means it has been the dominant foreign currency held by central b ...
RBI Expands Retail Digital Rupee Testing Pilot to Include More Banks and Cities
The Reserve Bank of India (RBI) said it is expanding its retail digital rupee testing pilot to include more banks and expand the list of cities. The central bank said in an annual report that it has been testing its own digital currency (CBDC) in stages. In November 2022 ...
India’s New Foreign Trade Policy Guideline to Allow Use of Digital Rupee for International Payments
The Indian government has recently introduced a new foreign trade policy guideline that allows the use of the digital rupee for international transactions. According to India's Commerce Minister, Sunil Barthwal, the new policy will make cross-border payments much more accessible for countries who ...