India to launch its own digital currency in 2022-2023

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India’s central bank will issue a digital rupee in the 2022-2023 financial year which begins Apr. 1.

India’s finance minister Nirmala Sitharaman said the introduction of the digital rupee would be based on “blockchain and other technologies.”

India would be one of the world’s largest economies to introduce a so-called central bank digital currency (CBDC) if it sticks to its plans, following in the footsteps of China which is testing a digital yuan.