India to introduce digital currency in fiscal year starting April

Politics Economy

India on Tuesday said the country will introduce digital currency in the next fiscal year starting in April to boost the economy, joining other countries, including China, in pushing forward with digital versions of their currencies. Finance Minister Nirmala Sitharaman said the Reserve Bank of India will launch a "digital rupee" by deploying blockchain and other supporting technologies to promote a digital economy. "Digital currency will also lead to a more efficient and cheaper currency management system," Sitharaman told a budget committee session in parliament. According to a report by the ...

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