India to Introduce RBI-Supported Digital Currency for Enhanced Transactions

According to PANews, India's Minister of Commerce and Industry, Piyush Goyal, announced on October 7 that the country will soon launch a digital currency backed by the Reserve Bank of India (RBI). This initiative aims to leverage blockchain technology for faster and more secure transactions, similar to stablecoins in the United States. However, Goyal emphasized that the Indian government remains cautious about cryptocurrencies like Bitcoin, which lack sovereign backing, and highlighted the risks associated with unregulated digital assets.