In other news, the central bank digital currency can replace cash-based transactions to some extent in India, Reserve Bank of India Deputy Governor T.
Over the last five years, while digital payments have risen at an average annual growth rate of about 50 percent roughly in India, the supply of currency has also almost nearly doubled, Shankar said.
Meta abandoned its effort to create a global cryptocurrency — first called Libra but eventually re-branded as Diem — in the face of fierce backlash by financial regulators around the world.