News list for "Reserve Bank of India"
According to Financefeeds, the Reserve Bank of India (RBI) Deputy Governor T. Rabi Sankar has made it clear that India will not adopt the US "GENIUS Act" or other G7 countries' stablecoin regulatory frameworks. The RBI believes that dollar-pegged stablecoins pose a fundamental threat to India's monetary sovereignty, which could lead to "dollarization" and reduce the effectiveness of the country's monetary policy. The Reserve Bank of India has stressed that the country already has efficient digit...
The deputy governor of the Reserve Bank of India said in public remarks that stablecoins could exacerbate the risk of local currency dollarisation, weaken emerging economies' ability to regulate capital flows and pose a threat to monetary policy independence. In addition, their circulation could push up the cost of credit, triggering a currency substitution effect. Foreign stablecoins could lead to the loss of seigniorage revenue in many countries.
The governor of the Reserve Bank of India has expressed caution towards cryptocurrencies and stablecoins.
The deputy governor of the Reserve Bank of India said that the launch of a stablecoin would raise a number of avoidable policy issues.
The Reserve Bank of India (RBI) on Wednesday launched a retail sandbox project for its central bank digital currency (CBDC), allowing fintech companies to develop and test related solutions in existing pilot schemes. The news was announced by the RBI's Chief Managing Director, Suvendu Pati. The Reserve Bank of India's first retail version of the digital rupee (e-rupee) pilot project was launched on December 1, 2022.
Reserve Bank of India official: The risk of asset tokenization is manageable and can be dealt with through regulatory guardrails.
Five traders said the Reserve Bank of India was likely to sell dollars on Thursday to support the rupee, which has come under pressure from persistent asset outflows and is hovering near record lows. State-owned banks offering dollars around 88.70 was likely to represent RBI action, traders said. "There is a central bank presence around 88.68-88, but it's very weak and they're not active," said one trader at a state-owned bank.
Trader: India's central bank may sell dollars to support the rupee before the local cash market opens.
According to Cointelegraph, the Reserve Bank of India continues to maintain a cautious stance on cryptocurrencies, citing policy and stability risks.
The Reserve Bank of India is widely expected to cut interest rates for the third time in a row on Friday as lower-than-expected inflation provides ample room for further economic growth. According to a Reuters poll, 53 of the 61 economists surveyed expected the Reserve Bank of India to cut rates by 25 basis points, bringing the repo rate to 5.75%, 2 expected the central bank to cut rates by 50 basis points, and the remaining 6 expected the central bank to keep rates unchanged. Barclays economist...
