CBDCs are issued by central banks, making them very different from Bitcoin or Ether. Pegged on a 1:1 basis to the rupee, it will be a safer option.
India’s digital payments universe is set to get one more entrant in the form of a Central Bank Digital Currency. In other words, CBDCs could soon join Unified Payments Interface, or UPI, cheques, bank transfers, and debit and credit cards to transact with individuals and businesses.
In contrast to the dim view that the Narendra Modi government and the Reserve Bank of India (RBI) have taken regarding private cryptocurrencies, they have both been unequivocal in their commitment to introduce a central bank-issued variant of digital currencies.
TCA Sharad Raghavan 