The Reserve Bank of India wants to involve fintech companies and commercial banks in testing CBDC.
In March, the Ministry of Finance announced that the Central Bank token could be launched as early as 2022.
According to the local publication Moneycontrol, the regulator has begun negotiations with companies and banks that can test the digital rupee with it.
Trending: Salvadorans are against buying bitcoins at the expense of the budget
Among such companies, FIS stands out, having developed an ecosystem for the Reserve Bank that allows experimenting with various forms of CBDC. In addition, FIS advises the Central Bank through its laboratory, launched at the end of August.
The Reserve Bank plans to gradually introduce an innovative tool. According to the plans of the regulator, the integration of the token into the payment infrastructure of the state will stretch over three stages.
The pilot project should end in 2023.