RBI Governor Sanjay Malhotra Reiterates Cautious Stance On Cryptocurrencies

RBI Governor Sanjay Malhotra stated that India remains cautious regarding cryptocurrencies due to concerns over monetary sovereignty and capital flows.

The central bank supports innovation in underlying technologies such as distributed ledger technology and tokenisation through public-private partnerships.

Malhotra noted that cross-border payments present greater challenges than domestic transactions, which can be explored using central bank digital currencies.