New Delhi: The Reserve Bank of India (RBI) is likely to launch its digital currency by next year. RBI is constantly working for it and has also made a plan. According to media reports quoted a local newspaper as saying that a senior central bank official at the State Bank of India (SBI) Banking and Economic Conclave has expressed full possibility.
 
Media reports quoting P. Vasudevan, chief general manager in the payments and settlement department in the RBI, read, 'Digital currency can be issued on a pilot basis in the first quarter of next year. So we're very bullish about it'. RBI is likely to launch the Central Bank Digital Currency (CBDCs) in the first quarter of next year. These will be digital or virtual currencies. However, it will be a digital transformation of India's original currency that is it will be a digital rupee.

Earlier, RBI Governor Shaktikanta Das had predicted a soft launch of CBDCs by December next year. However, he did not specify any timeline for the same.

Rupee adds 4 paise versus USD to close the day at 74.24

Market Closing: Sensex down 372-pts, Nifty is below 17,800

Rupee gained 9-paise versus dollar to close the day at 74.28