RBI Contemplating Pilot Launch of Digital Currency in Near Future: Deputy Governor T Rabi Shankar The idea of Central Bank Digital Currency (CBDC) is ripe, and many central banks in the world are working towards it, Sankar said. By Press Trust of India | Updated: 23 July 2021 09:41 IST RBI has been exploring the pros and cons of introduction of CBDC since quite some time Highlights The Deputy Governor further said legal changes would be necessary RBI is examining scope of CBDCs, underlying tech, validation mechanism The Reserve Bank is working on a phased implementation strategy for its own digital currency and is in the process of launching it in wholesale and retail segments in the near future, RBI Deputy Governor T Rabi Sankar said on Thursday.