NEW DELHI: India will soon launch its own digital currency backed by the Reserve Bank of India (RBI), Union Minister of Commerce and Industry Piyush Goyal said in a roundtable during his visit to Doha, Qatar.

The move aims to make financial transactions faster, safer, and more transparent, while reducing paper use in the economy.

Goyal explained that the digital currency will function like traditional money, but in an electronic form. “India has also announced that we’ll be coming out with a digital currency which will be backed by the Reserve Bank of India guarantee like normal currency,” he said.

Comparing it to the “stable coins” introduced in the United States under the GENIUS Act, the minister stated that the new system will facilitate transactions more easily and efficiently.

He

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