The Reserve Bank of India (RBI) is actively working on a digital currency and will make a decision “very soon,” the central bank has reportedly confirmed. Meanwhile, payments giant Paypal is shutting down its payment services within India. RBI Near Digital Rupee Announcement As the Indian government prepares to introduce the cryptocurrency bill that seeks to both ban cryptocurrencies and create a regulatory framework for the digital rupee to be issued by the RBI, the central bank has made an announcement of its own. RBI Deputy Governor B. P. Kanungo said Friday: An internal committee is taking a close look to decide on the model of the central bank digital currency and you will hear from the Reserve Bank very soon in the matter. RBI Governor Shaktikanta Das also spoke about digital currency Friday. “With regard to digital currency, I think we have already released our document,” he told reporters. “Our digital payment document spells out that digital currency is work in progre
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