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Budget 2022: The central bank will establish a digital rupee based on blockchain technology in 2022-23

Is a new crypto currency on the way?

The central bank would deploy a digital rupee based on blockchain and other technology in 2022-23, FM Nirmala Sitharaman said today as she delivered her fourth budget.

“The introduction of central bank digital money will provide the digital economy a significant boost. In addition, digital money would be a more cost-effective and efficient currency management system”, Ms. Sitharaman stated.

“A digital rupee, based on blockchain and other technologies, is intended to be issued by the Reserve Bank of India starting in 2022-23,” she stated.

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