Oyogist has learned that India’s Minister of Finance and Corporate Affairs, Nirmala Sitharaman, announced that the Central Bank of India is planning to launch a blockchain-based digital rupee by March 31, 2022.
Digital payments have grown dramatically in popularity in India since late 2016, when Prime Minister Narendra Modi banned the country’s two biggest rupee bank notes.
However, the country has for years expressed concern about cryptocurrencies and how best to regulate digital assets, at times even flirting with a ban on cryptos.
In a recent report, it was outlined that “Virtual currencies have become attractive to Indians since the start of the pandemic.
