Sethurathnam Ravi on India’s CBDC Revolution: Building a Trusted Digital Currency Future

CBDCs can reshape India’s financial landscape by enhancing inclusion, transparency, and efficiency— if built on trust, innovation, and strong policy safeguards . India stands at the cusp of a transformative era in finance with the emergence of Central Bank Digital Currencies (CBDCs) — state-backed digital currencies that promise to revolutionize how individuals save, spend, and make payments. While cryptocurrencies remain unregulated and volatile, CBDCs operate under the control of central banks , offering the potential to infuse greater transparency, efficiency, and financial inclusion into the system. With the RBI’s pilot scheme already onboarding 5 million users by mid-2024 , the momentum for CBDCs is undeniable. However, with this opportunity comes the responsibility to ensure trust, security, and economic stability. India’s CBDC Revolution Why CBDCs Are Crucial for India’s Financial Future As digital transformation accelerates globally, India’s financial infrastructure must ada...