Central Bank Digital Currency will be introduced this fiscal: RBI

Reserve Bank of India (RBI) Deputy Governor T Rabi Sankar on Wednesday said the Central Bank Digital Currency (CBDC), also known as digital rupee, will be introduced in fiscal year 2022-23. Process of introduction of CBDC will be gradual to avoid any impact on the financial and banking system, Sankar added. Introduction of CBDC was announced in Union Budget 2022.