(This column first appeared in Indian Express on February 18, 2022)
In the Union budget presented a few weeks ago, Finance Minister Nirmala Sitharaman proposed to introduce a digital currency in the coming financial year. While the RBI is still in the process of figuring out the contours of what a digital rupee will look like — it is expected to carry out pilot studies in this area shortly — there are several design/conceptual issues that it will need to examine…