RBI’s Policy on Stability: Sanjay Malhotra underlined the importance of stability and continuity in RBI’s policy frameworks. His comments focus on handling challenges posed by a changing global economic landscape while being open to innovation, particularly in the cryptocurrency sector.
Innovation in Cryptocurrency: Emphasizing the need for responsible growth, both Malhotra and Chief Economic Advisor V. Anantha Nageswaran encourage regulators to avoid imposing barriers to cryptocurrency innovations. This stance indicates a shift towards greater acceptance of digital currencies and advancements in India.
Ongoing Developments in RBI: The RBI is prioritizing the development of a Central Bank Digital Currency (CBDC), leading to delays in a comprehensive cryptocurrency policy. Historically cautious, recent events suggest the central bank’s evolving perspective on cryptocurrencies like Bitcoin.
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