Govt, RBI will promote digital currency: Finance Minister Nirmala Sitharaman

New Delhi: Finance Minister Nirmala Sitharaman on Thursday said the government and the Reserve Bank are actively engaged in improving the central bank digital currency (CBDC) so that it can be used for cross-border payments.

RBI began the pilot project wholesale CBDC and picked up nine banks - State Bank of India, Bank of Baroda, Union Bank of India, HDFC Bank, ICICI Bank, Kotak Mahindra Bank, YES Bank, IDFC First Bank, and HSBC.