CBDCs Will Make Cross-Border Transactions Cost-Effect and Fast, Says RBI Deputy Governor

CBDCs Will Make Cross-Border Transactions Cost-Effect and Fast, Says RBI Deputy Governor

The Reserve Bank of India’s (RBI) Deputy Governor T Rabi Sankar has stated that the country’s upcoming Central Bank Digital Currency (CBDC) could be viewed as a tool that greatly reduces time and cost for cross-border transactions. Referring to the RBI’s ‘Digital Rupee’ project, which was announced in the Union…