Governor Shaktikanta Das reiterated his views against allowing cryptocurrencies saying they are serious threat to any financial system since they are unregulated by central banks. "Cryptocurrencies are a serious concern to RBI from a macroeconomic and financial stability standpoint. Following this, on February 5, 2021, the central bank had instituted an internal panel to suggest a model of central bank's digital currency. "With regard to digital currency, I think we have already released our document. Our digital payment document spells out that digital currency is work in progress in RBI," Das told reporters announcing the February 5, 2021 monetary policy.

Source: Indian Express November 11, 2021 06:37 UTC