RBI is planning to introduce digital currency in India. RBI Deputy Governor T Ravi Shankar said on Thursday that the central bank is working on a plan to launch its own digital currency in a phased manner. As per the scheme, RBI is in the process of introducing digital currency in the wholesale and retail sectors on a pilot basis.

The deputy governor of the same Reserve Bank said that individuals need to be protected from the impact of fluctuations in digital currency without a government guarantee. His signal was towards unauthorized digital currencies like Bitcoin. He said central banks in many countries of the world are working towards launching it.

According to the information received, Shankar said people need to be protected from the "alarming level of volatility" seen in some digital currencies that do not receive any government guarantees. He said this while participating in the discussion during the online program of the Law Centre for Legal Policy. He informed that RBI is working on a plan to implement its own digital currency in a phased manner and it can be determined in such a way that there is no impact on the bank system and monetary policy.

KTR to donate 100 custom vehicles on his birthday under 'Gift a Smile' initiative

Petrol-Diesel prices recovering after a huge hike, know today's price

Kerala: Protests in the assembly demanding Minister AK Saseendran's resignation