The reserve bank of India started the country's CBDC proposed USES hierarchical method

India's central bank reserve bank of India (RBI) in its 20221-2022 annual report revealed the central bank introduced digital currency (CBDC) step-by-step structured method. The report released on May 26, admitted because of financial science and technologyConstant progress, since in the past decade the financial sector the structure and function of the major transformation. The report details the RBI start India CBDC plan, complete proof of concept and pilot and startup phase: the introduction of the * CBDC has set up a file in the 2022 - row 23 years union budget announced, and the 1934 RBI act was amended has been included in the finance act of 2022.

In February 2022, Nirmala Sitharaman in her budget speech announced the launch digital rupees in this fiscal year plan. In addition, in April, deputy governor of the RBI t. Rabi Sankar talked about CBDC potential impact on India's financial and monetary system. Sankar, said the central bank will launch CBDC very cautious and gradual manner, to assess the effect of the whole process.