Ref I Quote by Sajai Singh, Partner, J Sagar Associates on RBI working on making virtual currency reality
“RBI is moving in the right direction with regard to digital currencies. Any RBI backed digital currency will come with a promise of less volatility and greater security for the bearer of the same. This will be very different from cryptocurrencies, like Bitcoin and Ethereum, which are rather popular, but carry innumerable risks. Also, RBI’s support to a digital currency will ensure its financial stability. It will be similar to say a potential digital Euro and digital Yuan.” Sajai Singh, Partner, J Sagar Associates