Reserve Bank of India (RBI) Governor, Shaktikanta Das, emphasized that the central bank will chart its own course on cryptocurrency regulations, resisting the temptation to mimic approaches taken by other countries. His comments, made at a BFSI summit organized by a media publication, were a response to the recent approval by the US Securities and Exchange Commission for changes enabling the creation of bitcoin exchange-traded funds in the United States.
Das stated firmly, "What is good for another market need not be good for us. Therefore, our views—both that of the Reserve Bank and personally that of mine—remain the same," underscoring the unique considerations and context surrounding cryptocurrency regulations in India.
Responding to a question regarding the potential inflationary impact of the forthcoming vote-on-account, Das expressed confidence based on the government's past records. He indicated that, in his assessment, the interim budget is unlikely to generate inflationary pressures. The governor highlighted the government's proactive supply-side measures implemented since the onset of the Russia-Ukraine war as a crucial factor in containing price rises.
(With Agency Inputs)
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