Today news
About the same in other media
Allowing cryptocurrency may erode central bank's control over money supply: Former RBI Guv Duvvuri Subbarao
Reading now: 845
moneycontrol.comFormer Reserve Bank of India Governor Duvvuri Subbarao has said the central bank could lose control over money supply and inflation management if cryptocurrency is allowed in the country.
Speaking at a webinar organised by the National Stock Exchange (NSE) and New York University (NYU) Stern School of Business, Rao also said India’s case for issuing a central bank digital currency (CBDC) may not be strong as there are capital controls.
"Crypto is backed by algorithms and there is fear that the central bank might lose control over money supply and inflation management. There are also concerns that crypto will disrupt the monetary policy, he said on Wednesday.
Rao, who served as the governor of RBI from 2008 to 2013, said CBDC also needs robust
Read more on moneycontrol.comAbout this in other media
Allowing cryptocurrency may erode central bank's control over money supply: Former RBI Guv economictimes.indiatimes.com /2 years ago
Kotak Mahindra To Partner With Cryptocurrency Exchange WazirX, Account Can Be Used By Investors To Receive And Pay Money For Trading ndtv.com /2 years ago
5 Reasons Why Cryptocurrency Regulation Is Important ndtv.com /2 years ago
Show more
The website finance-news.co is an aggregator of news from open sources. The source is indicated at the beginning and at the end of the announcement. You can send a complaint on the news if you find it unreliable.
