The trial may start to the introduction of a CBDC in India before the top of this financial year, most likely in 3 steps; U.S.-based FIS is reportedly participating.
The reserve bank of India (RBI) is in talks with fintech firms and socialist banks a few tryout of a central bank digital currency (CBDC), native publication Moneycontrol according on Sept. 5. an unnamed public sector bank official told the publication that the trial might precede an RBI launch of a CBDC this year.
U.S.-based financial services company FIS was mentioned in concert of the fintech firms with that the run is consulting. FIS senior director Julia Demidova confirmed to Moneycontrol that, “FIS has had varied engagements with the run […] and, of course, our connected scheme can be extended to the run to experiment varied CBDC choices.”
FIS proclaimed the launch of its CBDC Virtual work on Aug. 25. the corporate was already active within the CBDC sphere because the host of conferences and roundtables on the subject.
The RBI is reportedly in talks with public sector banks bank of India, Punjab national bank, Union Bank of India and Bank of Baroda on participating within the trial. the government owns a minimum of a 50% share in those banks.
( Derek Andersen, Cointelegraph, 2022 )