<p> Reserve Bank of India (RBI) Deputy Governor T Rabi Sankar on Wednesday said that the central bank will launch its digital currency as a pilot project this year.</p>.<p>Addressing the India Ideas Summit, he said that Central Bank Digital Currency (CBDC) is the most efficient system for cross-border payments.</p>.<p>Finance Minister Nirmala Sitharaman had announced in the Union Budget that CBDC would be launched during 2022-23.</p>.<p><strong>Also Read — <a href="https://www.deccanherald.com/business/business-news/india-inflation-rate-likely-rose-to-69-in-august-report-1142617.html" target="_blank">India inflation rate likely rose to 6.9% in August: Report</a></strong></p>.<p>He, however, reiterated that RBI is not aiming for a cashless society but is keen to give customers viable alternatives.</p>.<p>Sankar further said that Unified Payments Interface or UPI is likely to become more internationalised.</p>.<p>The RBI, he informed, is trying to calibrate policy on digital payments as per the feedback being received from stakeholders.</p>.<p>Highlighting the growing significance of digital payments segment in the country, Sankar noted that it was growing at the rate of 40 to 50 per cent per annum.</p>.<p>The RBI Deputy Governor at the same time informed that the central bank is trying to safeguard data privacy under the ambit of digital infrastructure.</p>.<p>It is also working on scaling up technological stability of the digital payments infrastructure, he added.</p>.<p>In this connection, Sankar said that RBI is also focussing on scaling up fraud management.</p>
<p> Reserve Bank of India (RBI) Deputy Governor T Rabi Sankar on Wednesday said that the central bank will launch its digital currency as a pilot project this year.</p>.<p>Addressing the India Ideas Summit, he said that Central Bank Digital Currency (CBDC) is the most efficient system for cross-border payments.</p>.<p>Finance Minister Nirmala Sitharaman had announced in the Union Budget that CBDC would be launched during 2022-23.</p>.<p><strong>Also Read — <a href="https://www.deccanherald.com/business/business-news/india-inflation-rate-likely-rose-to-69-in-august-report-1142617.html" target="_blank">India inflation rate likely rose to 6.9% in August: Report</a></strong></p>.<p>He, however, reiterated that RBI is not aiming for a cashless society but is keen to give customers viable alternatives.</p>.<p>Sankar further said that Unified Payments Interface or UPI is likely to become more internationalised.</p>.<p>The RBI, he informed, is trying to calibrate policy on digital payments as per the feedback being received from stakeholders.</p>.<p>Highlighting the growing significance of digital payments segment in the country, Sankar noted that it was growing at the rate of 40 to 50 per cent per annum.</p>.<p>The RBI Deputy Governor at the same time informed that the central bank is trying to safeguard data privacy under the ambit of digital infrastructure.</p>.<p>It is also working on scaling up technological stability of the digital payments infrastructure, he added.</p>.<p>In this connection, Sankar said that RBI is also focussing on scaling up fraud management.</p>