RBI plans pilots for digital currency

RBI Deputy Governor T Rabi Sankar has said that it will shortly conduct pilots for the country’s digital currency to be used in wholesale or retail segments. “Some progress has been made. We are likely to come out (with pilots) in the near future,” Mr Sankar has said. The RBI is examining use of digital currency that can be implemented with little or no disruptions. Mr Sankar has said that a full-scale launch could have an impact on the banking and the monetary systems, adding: “The idea is to start off with models that would have minimal or no impact.”