FM Sitharaman pushes RBI to sharpen digital rupee as tokenisation takes off
Finance Minister Nirmala Sitharaman urged the Reserve Bank of India to advance digital rupee pilots. She highlighted tokenisation's role in enabling near-instantaneous settlement of financial transactions. Sitharaman advocated for a soft-touch regulatory approach to emerging technologies like artificial intelligence. She warned of AI's risks while emphasizing responsible adoption for…
Finance Minister Nirmala Sitharaman urged the Reserve Bank of India to advance both wholesale and retail digital rupee pilots, highlighting the recent success of a tokenized corporate bond transaction. She emphasized tokenization as a defining development for the financial architecture and called for a soft-touch approach to regulating emerging technologies, particularly artificial intelligence.
Sitharaman cautioned of the risks associated with agentic AI and the potential amplification of operational and systemic risks. She stressed the need for responsible adoption of AI, with responsibility for deployment resting on boards, senior management, and regulators. Sitharaman also advocated for greater coordination among regulatory bodies to ensure activities do not escape oversight due to regulatory jurisdiction gaps.
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- FM Sitharaman gives digital rupee pilots a nudge economictimes.indiatimes.com
