Reserve Bank of India Governor Sanjay Malhotra spoke at the International Monetary Fund and World Bank Annual Meetings in Washington on 15 October 2025 and called on central banks worldwide to prioritise central bank digital currencies over privately issued stablecoins. Malhotra argued that CBDCs offer superior solutions for cross-border payments compared with private stablecoins.
INDIA'S DIGITAL RUPEE
India's own CBDC is the Digital Rupee, which the Reserve Bank of India has been piloting across both retail and wholesale segments.
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