{
  "id": 11658878,
  "title": "RBI remains cautious on crypto, backs underlying technology: Governor Malhotra",
  "url": "https://urgent.news/2026/10/03/rbi-remains-cautious-on-crypto-backs-underlying-technology-governor-11658878",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-10-03T10:15:48.000Z",
  "source": {
    "name": "The Hindu",
    "slug": "the-hindu",
    "url": "https://www.thehindu.com/business/rbi-remains-cautious-on-crypto-backs-underlying-technology-governor-malhotra/article71540258.ece"
  },
  "original_language": "en",
  "account": "India's central bank, the Reserve Bank of India (RBI), has maintained a cautious stance on cryptocurrencies while endorsing the underlying technologies, according to Governor Sanjay Malhotra. In an address at the Kautilya Economic Conclave, Malhotra highlighted the bank's support for innovations in distributed ledger technology and tokenisation, but expressed concerns regarding cryptocurrencies due to issues of monetary sovereignty, monetary policy, and capital flows. The RBI Governor emphasized that cryptocurrencies pose a threat to the singleness of money, a concept critical for monetary policy, particularly in emerging market economies where capital flow restrictions are prevalent.\n\nMalhotra pointed out that while domestic payments within India and many other countries are now fast, cheap, and convenient, cross-border payments remain a significant challenge that could potentially be addressed through alternative solutions like central bank digital currencies (CBDCs). He further discussed the rising global bond yields and hardening of debt, attributing the trend to increased demand and spending, particularly driven by advancements in artificial intelligence (AI). The RBI's primary focus, according to Malhotra, is on domestic growth and inflation dynamics, but global interest rates also have a bearing on India, affecting real interest rates within the country.",
  "summary": "Governor Sanjay Malhotra says India supports innovation in distributed ledger technology and tokenisation, but is wary of cryptocurrencies over concerns about monetary sovereignty and capital flows",
  "key_points": [
    "RBI cautious on crypto, endorses underlying tech",
    "Governor Malhotra highlights monetary sovereignty concerns",
    "CBDCs seen as solution for cross-border payments"
  ],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 4,
    "also_reported_by": [
      {
        "outlet": "The Economic Times - Economy",
        "title": "RBI remains cautious on crypto, backs underlying technology: Governor Sanjay Malhotra",
        "url": "https://urgent.news/2026/10/03/rbi-remains-cautious-on-crypto-backs-underlying-technology-governor",
        "published": "2026-10-03T09:00:57.000Z"
      },
      {
        "outlet": "YourStory",
        "title": "RBI remains cautious on crypto, backs underlying technology: Guv Malhotra",
        "url": "https://urgent.news/2026/10/03/rbi-remains-cautious-on-crypto-backs-underlying-technology-guv",
        "published": "2026-10-03T11:01:47.000Z"
      },
      {
        "outlet": "Free Press Journal",
        "title": "RBI Remains Cautious On Crypto But Supports Blockchain Technology: Governor Sanjay Malhotra",
        "url": "https://urgent.news/2026/10/03/rbi-remains-cautious-on-crypto-but-supports-blockchain-technology",
        "published": "2026-10-03T11:23:00.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}