India's tryst with CBDCs or central bank digital currencies is all set to expand. Reports suggest that India’s central bank may soon introduce CBDCs in the call money market.

India's RBI to expand digital rupee use

A recent survey conducted by the CFA Institute, a renowned worldwide association for bankers, investors, and finance chiefs, has shed light on the sentiment surrounding central bank digital currencies (CBDCs).

Global survey reveals limited support for Central Bank Digital Currencies

The CBDC or the Central Bank digital currency is all set to go global, thanks to the International Monetary Fund, which is working on a global platform for CBDC transactions. The IMF wants countries to agree on a common framework for digital currencies for easy global transactions.

IMF looking at global platform for digital currencies

In a bid to foster efficient and fairer international transactions, the International Monetary Fund (IMF) is actively developing a global platform for Central Bank Digital Currencies (CBDCs), Reuters reported.

IMF backs a global central bank-backed digital currency network

As engaged in controlling inflation, RBI recently rolled out its first pilot test programme to review and improve the currency’s functionality. Reserve Bank of India launched its first digital rupee on November 1 for the wholesale segment.

What is e-rupee and what is the difference between cryptocurrency and CBDC?

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