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RBI MPC: Reserve Bank of India On June 8, Wednesday, he held a press conference after announcing his decisions taken in Monetary Policy Committee Which ended on the day after three days of deliberations. During the press conference, Reserve Bank of India Governor Shaktikanta Das He said that there is an ongoing engagement between the government and the Reserve Bank of India regarding cryptocurrencies.
When asked if there are more dialogues between the government and RBI Regarding the consultation paper which is due to be released soon, Reserve Bank of India Governor Shaktikanta Das said that the central bank is constantly communicating with the government on the issue. “I can say that on all issues there is an ongoing engagement between the government and the Reserve Bank, including crypto issues. We have presented our views to the government. Let’s wait for the discussion paper,” said Das.
Earlier on May 31 this year, Minister of Economic Affairs Ajay Seth said that the Ministry of Finance had almost completed its work in preparing a consultation paper on cryptocurrencies, and would present it soon. “The consultation paper is more or less ready. We went through a deep dive and consulted not only local stakeholders but also multilateral institutions such as the IMF and Globalism Bank. “Hopefully we will soon be in a position to finalize and present it,” Seth said while speaking at an event.
Seth also said that India is consulting with other countries around the world on global regulations on cryptocurrency, and India’s role in the event of such action. He told the press that there was a need for a global consensus on cryptocurrencies and that India would look at regulations imposed in other countries first, before making such decisions.
In an interview with CNBC TV18 on May 23, days after announcing the out-of-cycle repo rate hike, Reserve Bank of India Governor Shaktikanta Das said the central bank had been warning for a long time against cryptocurrencies, and has now collapsed. At this point, the global cryptocurrency market has taken a huge hit, from which it has yet to recover.
“We have been wary of cryptocurrencies and looking at what has happened to the crypto market now. If we were really regulating it, people would have raised questions about what happened to the regulations,” Das told CNBC TV18 in an exclusive interview. . There are big questions about how to organize it. “Our position remains very clear, and it will seriously undermine India’s monetary, financial and macroeconomic stability,” the Reserve Bank of India governor added.
Shaktikanta Das also said that he thinks the position appears to be in sync with the central bank’s stance on worthless cryptocurrencies. We have conveyed our position to the government and you will receive a thoughtful call. I think the statements and statements from the government are more or less synchronized. Das said at the time.
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