Governor of the Reserve Bank of India: It is not advisable to rush into a full-scale launch of the CBDC across the entire system

ChainCatcher news, according to CoinDesk, the Governor of the Reserve Bank of India, Shaktikanta Das, stated that although the number of users in its retail Central Bank Digital Currency (CBDC) pilot has exceeded 5 million, there should be no rush to launch a system-wide CBDC until a comprehensive understanding of the impact of CBDC on users, monetary policy, the financial system, and the economy is achieved.

Shaktikanta Das mentioned that currently up to 16 banks are participating in the retail CBDC pilot, but did not disclose the specific number of daily transactions. The RBI had previously stated that there is no urgency to implement a full-scale retail CBDC and has not announced a specific timeline. However, this time Shaktikanta Das hinted that a full implementation might be avoided.