The Indian government is investigating "several commercial use purposes and not just financial inclusion" for its central bank digital currency. India's finance minister explained that the aim is for the digital rupee, which will be backed by the Reserve Bank of India (RBI) to be issued by 2023.
Indian Finance Minister Nirmala Sitharaman talked about the country's central bank digital currency (CBDC) the digital rupee, this week at a business roundtable on "investing in India's Digital Revolution" in San Francisco.
The event was organized by the Federation of Indian Chambers of Commerce & Industry (FICCI) a non-governmental trade association and advocacy group based in India. it was hosted by the U.S India Strategic Partnership Forum (USISPF).
Reiterating that the government and the Reserve Bank of India (RBI) aim to declare India's central bank digital currency in 2023, the finance minister stated:
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