We have concerns over cryptocurrencies: RBI governor

MUMBAI: Reserve Bank of India governor

Shaktikanta Das

on Wednesday said the

central bank

has concerns that cryptocurrencies could impact financial stability. He also said that a central bank-issued digital currency is receiving RBI’s ‘full attention’ and is ‘very much in the game’.


In an interview to a private TV channel, Das reiterated RBI’s statement that while it had concerns about cryptocurrency, the IT behind bitcoins—the blockchain technology—could provide benefits to the financial sector.

The statement by the RBI governor indicates that despite a Supreme Court order stopping RBI from restricting banks from dealing with cryptocurrency, the central bank is not fully convinced. This expression of concern could discourage banks from allowing Indians to deal with bitcoins or providing services to bitcoin exchanges.