“India’s central bank, the Reserve Bank of India (RBI), published a report titled “Concept Note on Central Bank Digital Currency” Friday. The 51-page document explains the “objectives, choices, benefits, and risks of issuing” a central bank digital currency (CBDC) in India, the RBI described, adding that it has been exploring the pros and cons of introducing a central bank digital currency “for some time.” The RBI clarified that the upcoming CBDC, also referred to as e₹ (digital rupee) “is substantially not different from banknotes, but being digital it is likely to be easier, faster, and cheaper.””