India’s central bank is maintaining a defensive posture against cryptocurrencies and stablecoins, with Reserve Bank of India Governor Sanjay Malhotra describing the institution’s approach as “very cautious” amid concerns that digital assets could undermine financial stability. Speaking at Delhi School of Economics, Malhotra highlighted the dual threats of crypto volatility and the potential for these assets to bypass established financial safeguards, creating tension as the Indian government considers formalizing a stablecoin framework while the RBI promotes its own central bank digital currency alternative.
about India's RBI Cautious on Crypto, StablecoinsReserve Bank of India (RBI)
0 in Finance and 0 in Crypto last weekIndia-UAE Launch CBDC Bridge for Cross-Border Payments
In a landmark move for international finance, the Reserve Bank of India (RBI) and the Central Bank of the United Arab Emirates (CBUAE) have signed a Memorandum of Understanding to collaboratively develop a bilateral Central Bank Digital Currency (CBDC) bridge. This strategic partnership, focused on enabling cross-border transactions for remittances and trade, marks a significant step toward enhancing payment efficiency and reducing costs between the two nations, with the UAE being India’s second-largest source of inbound remittances.
about India-UAE Launch CBDC Bridge for Cross-Border PaymentsRBI Holds Firm on Crypto Risks as India Seeks Legal Clarity
RBI Governor Sanjay Malhotra reaffirmed that cryptocurrencies like Bitcoin and Ethereum pose significant risks to India’s monetary policy and financial stability, likening unregulated trading to ‘modern hawala.’ Despite Supreme Court pressure to avoid a blanket ban and establish legal clarity, the government is preparing a discussion paper for public input. Strict tax rules, including a 70% penalty on unreported crypto profits, and stringent KYC requirements are driving Indian investors toward more crypto-friendly jurisdictions like Singapore and Hong Kong. The RBI, however, remains steadfast in its warnings, offering no signs of crypto integration into India’s traditional financial system.
about RBI Holds Firm on Crypto Risks as India Seeks Legal ClarityIndia’s RBI Expands Digital Rupee with New Features
The Reserve Bank of India (RBI) is expanding its digital rupee pilots by introducing new functionalities such as programmability and offline transaction capabilities, as outlined in its 2024–25 Annual Report. These features are designed to enhance financial inclusion, particularly in areas with limited internet access, and enable targeted use cases like government subsidies or corporate spending controls. Currently, both retail and wholesale CBDC pilots are underway, with the retail version involving select customers and merchants, while the wholesale pilot focuses on interbank market applications. The RBI’s move signals a strategic push toward a more versatile and accessible digital currency ecosystem.
about India's RBI Expands Digital Rupee with New Features