REs shall facilitate the easy administration of IT and cyber governance and compliance, in place of the prevalent multiple circulars The new comprehensive master direction on information technology governance, risk, controls and assurance practices to be implemented by Regulated entities (REs) comprising of scheduled commercial banks (excluding regional rural banks); small finance banks; payments banks; …
RBI has recently launched a pilot for its digital rupee – a first step towards CBDC. However, there is a way to go before a full acceptance and leveraging of the blockchain ecosystem is achieved. This is a once in a generation opportunity for India to be a world leader, and the question is whether …
It was a proposal made in October 2021 by the RBI to the government, which set India on the path of becoming one of the largest economies in the world to use a CBDC (Central Bank Digital Currency). The central bank had recommended that the RBI Act, 1934, be amended to broaden the ‘banknote’ definition …
Impact of CBDC on the financial system and economy of India Read More »