“RBI explores collaboration with US, EU for digital rupee; plans to extend CBDC partnership with UAE | India News Today Live Updates – October 22, 2024”

In a groundbreaking move, the Reserve Bank of India (RBI) has announced its intention to collaborate with the United States and the European Union on the development of a digital rupee. This partnership aims to modernize the Indian currency and position it as a leading player in the global digital economy.

The RBI’s decision to seek collaboration with these international partners comes as part of its efforts to stay ahead of the curve in the rapidly evolving world of digital currencies. By working with the US and EU, the central bank hopes to leverage their expertise and resources to ensure the success of the digital rupee project.

Additionally, the RBI is also expected to extend its central bank digital currency (CBDC) partnership with the United Arab Emirates (UAE). This partnership has already proven to be successful in promoting cross-border payments and fostering financial inclusion in both countries.

The move to collaborate with the US, EU, and UAE underscores the RBI’s commitment to embracing innovation and technology in the financial sector. It also highlights India’s growing importance in the global digital economy and its ambition to lead the way in the development of digital currencies.

As the world eagerly awaits further updates on the digital rupee project, this collaboration between the RBI and its international partners is set to pave the way for a new era of digital currency innovation. Stay tuned for more updates on this exciting development.