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What is RBI about?

The Reserve Bank of India plans to start a pilot program for the wholesale segment of Central Bank Digital Currency in commercial papers and certificates of deposits. The RBI Governor stated the pilots would study using digital platforms to exchange CBDC for these financial instruments. The RBI also warned non-bank lenders against disbursing cash loans over Rs. 20,000 and is monitoring compliance with this rule to protect customers and prevent financial risks.

Author

Aditya Singh

Language

EN