India may start testing digital rupee in December: RBI Governor

India is expected to launch a digital rupee pilot project by the end of the year, Shaktikanta Das, governor of the Reserve Bank of India, said in an interview with CNBC on Thursday. The Reserve Bank of India is studying all aspects of CBDC, including its security, the impact on India's financial sector and how it will affect monetary policy and currency in circulation. It is also exploring options for centralized ledgers and distributed ledger technology (DLT). DLT refers to a digital database that allows multiple parties to access, share and record transactions simultaneously. A centralized ledger means that the database is owned and operated by a single entity, namely the central bank. Das said: We are very cautious because it is a brand new product, not only for the Reserve Bank of India, but also for the world. I think by the end of this year, we should be able (or able) to start our first pilot. (CNBC)