The central bank has repeatedly expressed its strong views against cryptocurrencies, saying they pose serious threats to the macroeconomic and financial stability of the country.
The RBI has been examining use cases and working out a phased implementation strategy for the introduction of a Central Bank Digital Currency with little or no disruption.
The Centre has listed Cryptocurrency and Regulation of Official Digital Currency Bill, 2021, for consideration in the ongoing winter session of Parliament
The board's 591st meeting was held under the chairmanship of RBI Governor Shaktikanta Das whose tenure has been extended by three years up to December 2024.