India's Finance Minister Urges Preparedness for Stablecoin Integration

According to PANews, Indian Finance Minister Nirmala Sitharaman has called on nations to prepare for the integration of stablecoins, reigniting debates over digital currencies. At the 2025 Global Fintech Festival, Pine Labs CEO Amrish Rau and Sahil Kini, CEO of the Reserve Bank of India's (RBI) Innovation Hub, discussed the potential impact of programmable digital currencies on India's financial system. Rau highlighted that programmable currencies could enhance efficiency and transparency by restricting the use of funds. Kini noted that India's central bank digital currency already supports purpose-specific payment functions, and the RBI is piloting digital subsidies for targeted programs. However, he cautioned that stablecoins might undermine central bank control. Both executives emphasized that India's fintech infrastructure lays the groundwork for programmable currency development, while questioning the necessity of stablecoins amid the rapid evolution of local payment systems.