India is planning to launch the proposed central bank digital currency (CBDC) by 2023 with the government and RBI. Both are planning to use beyond financial purposes, said finance minister Nirmala Sitharaman.
Financial inclusion is achieved by the JAM (Jan-Dhan-Aadhaar-Mobile) trinity, now government and RBI are looking into various commercial use purposes of CBDC, Sitharaman added at an event organized by Ficci and USISPF, California. She warned that in an interconnected world, sanctions could have involuntary implications, which India is attempting to address.
Sitharaman spoke on India’s stand amid the Russia-Ukraine war. India is protecting its economic and security interests, she added.