System-wise CBDC Roll-Out Should Not Be Rushed: RBI Governor

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India’s central bank Governor Shaktikanta Das has expressed that while the retail CBDC pilot has over 5 million users, there should not be in any rush to roll out a system-wide CBDC. By the end of 2022, the RBI had launched pilots for both CBDCs. By the end of 2023, the retail CBDC had hit a million transactions, at least on one day. He noted that it is crucial to emphasize that there should not be any rush to roll out system-wide CBDC before acquiring a complete understanding of its impact. ‘Actual introduction of CBDC can be phased in gradually’, he stated.