CBDCs Transaction To Remain Anonymous "To A Certain Degree" Says RBI

December 07, 2022

Story: Divya Sinha

RBI official on Wednesday said that transactions via the CBDC will remain anonymous “to a certain degree”.

India launched a digital currency pilot on November 1st with the first trials.

From December 1st, the scope of the project has been expanded to include consumer and retail-driven transactions.

RBI Deputy Governor, 

T Rabi Sankar said "It is possible to get a legal provision to ensure anonymity".

He further added that anonymity is a basic feature of currency and they will have to ensure that with CBDCs.

The RBI has not disclosed the extent to which CBDC transactions will be anonymized.

Just like Income Tax Department has allowed cash transactions up to certain limits without requiring any government identification and the same rules may apply says RBI Governor Shaktikanta Das.