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In this commentary published in the The Hindu Business Line, S Yash Kalash urges policymakers to tap the potential of offline central bank digital currency (CBDC) in extending financial services to remote and underserved areas.
" In the evolving digital global economy, Central Bank Digital Currencies (CBDCs) which are digital sovereign currency, issued and regulated by a nation’s central bank have promised to enhance payment efficiency, reduce transaction costs, and strengthen monetary policy implementation. But while online CBDCs have garnered significant attention, the potential of offline CBDCs — digital currencies operable without constant internet connectivity — remains largely unexplored. It’s …
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