India to Launch RBI-Backed Digital Currency for Faster, Traceable Transactions

India is gearing up to launch a RBI-backed digital currency, Union Minister Piyush Goyal announced during a financial cooperation meeting with Qatar in Doha. The upcoming central bank digital currency (CBDC) will come with an RBI guarantee, ensuring transactions are faster, more transparent, and easier to track than traditional banking methods. Goyal also clarified that India remains cautious about unregulated cryptocurrencies that lack government or asset backing. The initiative reflects the country’s growing focus on using blockchain technology responsibly while strengthening financial transparency and innovation, a move that could make India a frontrunner in the global race toward regulated digital currencies.