Just-in: RBI’s Exclusive Meeting Reportedly Saw Internal Conflict-of-interest Regarding Crypto
The latest update in the Indian crypto and CBDC sphere saw the Central Board of Directors of Reserve Bank of India (RBI) discuss the concern around private cryptocurrencies, as well as various aspects relating to Central Bank Digital Currency (CBDC). Today, at the 592nd meeting of RBI’s Board of Director, which was held in Lucknow, under the Chairmanship of Governor Shri Shaktikanta Das, reportedly saw an internal conflict-of-interest in regards crypto’s fate in India.
According to CNBC-TV18‘s insider source, a majority of the board members were doubtful about private cryptocurrencies and their impact on financial stability. However, board member, Professor Sachin Chaturvedi took a pro-crypto stance, asserting that the nation should not close the door on private cryptos, and certainly not impose a ban on them.
Minutes of the meeting
According to the content of RBI’s press release, while discussing CBDCs and Private Cryptocurrencies, the Board also reviewed the nation’s present domestic and global financial state of affairs, as well as evolving challenges and remedial measures. Additionally, RBI’s half yearly income statement was at disposal, along with various areas of operations of the Bank like – “the functioning of the Local Boards, activities of select Central Office Departments and the draft Report on Trend and Progress of Banking in India, 2020-21.”
“Deputy Governors Shri Mahesh Kumar Jain, Dr. Michael Debabrata Patra, Shri M. Rajeshwar Rao, Shri T. Rabi Sankar and other Directors of the Central Board – Shri Satish K. Marathe, Shri S. Gurumurthy, Ms Revathy Iyer and Prof. Sachin Chaturvedi attended the meeting. Shri Debasish Panda, Secretary, Department of Financial Services also attended the meeting.”, according to the report.
Will the Bill get postponed yet again?
According to CoinGape’s exclusive reportage, the Indian Crypto Bill may get delayed yet again. Earlier this week, it was speculated that the crypto bill was yet not finalized, and unless the draft bill achieves cabinet approval, it cannot be introduced for discussion in the parliament.
“The proposed ‘Cryptocurrency and Regulation of Official Digital Currency Bill, 2021’ is not on the agenda of Union Cabinet meeting scheduled on December 15, sources confirmed”
- Cathie Wood’s Ark Invest Eyes Stake in Tether as USDT Issuer Targets $500B Valuation
- Kraken Secures $500M at $15B Valuation, Eyes IPO in 2026
- Bybit Lists Ripple’s RLUSD Following BlackRock and VanEck Integration
- SWIFT Plans Stablecoin and On-Chain Messaging Pilot on Linea, Challenging Ripple
- Breaking: U.S. PCE Inflation Rises To 2.7% YoY, Bitcoin Bounces
- Solana Price Set for Q4 Surge as Canary Capital ETF Filing Meets Wyckoff Accumulation
- Avalanche Price Could Surge to $50 as Transactions Jump 200%
- CHMPZ Price Prediction:Will This Net-Zero Community Token be the Next Gem?
- Ethereum (ETH) Price Set for a rebound as Whales Accumulate $1.6B ETH and Outflows Hit $622M
- HYPE Price Prediction As Bitwise Files For Hyperliquid ETF – Is $55 In Sight?
- Shiba Inu Price Eyes Recovery From Demand Zone With Burn Rate Soaring Nearly 400%
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
