RBI To Allow Limited Anonymity With Digital Rupee

CBDCs Transaction To Remain Anonymous "To A Certain Degree" Says RBI

December 07, 2022 Story: Divya Sinha

RBI official on Wednesday said that transactions via the CBDC will remain anonymous “to a certain degree”.

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India launched a digital currency pilot on November 1st with the first trials.

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From December 1st, the scope of the project has been expanded to include consumer and retail-driven transactions.

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RBI Deputy Governor, T Rabi Sankar said "It is possible to get a legal provision to ensure anonymity".

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He further added that anonymity is a basic feature of currency and they will have to ensure that with CBDCs.

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The RBI has not disclosed the extent to which CBDC transactions will be anonymized.

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Just like Income Tax Department has allowed cash transactions up to certain limits without requiring any government identification and the same rules may apply says RBI Governor Shaktikanta Das.

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