India's reserve bank governor has revealed that it could begin testing its Central Bank Digital Currency sometime in December. It could still take several years for a CBDC to become widespread though.
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The Indian government is looking for parliament to debate a bill which would ban bitcoin and other cryptocurrencies inside the country and allow the reserve bank to create its own cryptocurrency.
As per a report, the Indian government is working on creating its own cryptocurrency, backed by its reserve bank. It will reportedly be named after Lakshmi, the Hindu goddess representing wealth.
The Reserve Bank of India is exploring the possibilities of issuing its own cryptocurrency, adding that it's rather uncomfortable with "non-fiat cryptocurrencies" such as bitcoin.
Google will reportedly be unveiling its new digital payments system, dubbed Google Tez, on the 18th of September. The system could allow users to transfer money between bank accounts on their mobiles.