RBI to issue digital rupee this FY: FM

New Delhi, Feb 1 (UNI) Giving major push to the launch of digital currency, Finance Minister Nirmala Sitharaman on Tuesday said that the central bank would issue digital rupee in the current financial year. She said that introduction of digital currency would lead to more efficiency and cheaper currency management system.

“It is therefore proposed to introduce digital rupee using block chain and other technologies to be issued by the RBI starting 2022-23,” Sitharaman said while presenting Union Budget for FY23 in Lok Sabha. The central government and RBI had earlier indicated that they are getting ready to launch a central bank digital currency (CBDC).