G20 New Delhi Summit: The synthesis paper, jointly written by the International Monetary Fund and the Financial Stability Board, was submitted to G20 members and discussed at the meeting of finance deputies in New Delhi ahead of the Leaders Summit on September 9-10
RBI deputy governor T Rabi Sankar said on Thursday that the number of retail CBDC transactions would rise exponentially in coming months as interoperability with UPI QR codes would kick in.
"Why is the average cost of transaction for retail 6%? It is not (because of) technology, technology can be made", said Rabi Sankar, at the Global Fintech Festival. "It s a question of consensus that has to arise globally and a commitment that has to come up on changing these systems (among central banks)."
India Business News: MUMBAI: RBI deputy governor T Rabi Sankar said that global regulators cannot address problems related to cross-border payments under the current frame.