Central Bank Digital Currency

CENTRAL BANK DIGITAL CURRENCY & STABLECOINS

The Reserve Bank of India (RBI) is promoting the adoption of Central Bank Digital Currency (CBDC) over Stablecoins to ensure monetary stability and reduce risks of dollarisation. CBDCs, being sovereign digital money, offer secure and efficient payment systems, while privately issued Stablecoins pose regulatory and financial challenges. India’s Digital Rupee pilot projects—both retail and wholesale—are progressing steadily, aligning with global trends where over 130 countries are exploring CBDCs. The way forward lies in strong regulation, international coordination, and technological innovation to balance financial security and digital transformation.