Overview

• Union minister Piyush Goyal said in Doha that India will "soon" roll out an RBI‑guaranteed digital rupee designed for faster, traceable transactions and reduced paper use.
• Goyal reiterated that privately issued cryptocurrencies are not banned but are discouraged through a flat 30% tax on gains and a 1% TDS on transactions.
• The RBI has already run wholesale and retail pilots of the e‑rupee since late 2022, with CBDC value in circulation reaching Rs 1,016 crore by end‑March 2025, according to PTI citing the central bank.
• The central bank has warned that stablecoins could fragment India’s payments infrastructure and has advised against regulation that could grant unbacked tokens legitimacy, Reuters previously reported.
• Regulated token architectures are expanding, with the RBI and commercial banks set to pilot tokenized deposits, and Finance Minister Nirmala Sitharaman urging adaptation to new monetary architectures.