Moneycontrol
Masterclass Ideas For A New India

How will the digital rupee work? Decoding CBDC

11 February, Friday 06:00 pm , Friday

Meet Our Speakers

Sharad Sharma

Sharad Sharma

Sharad Sharma is a prominent voice in the entrepreneurial ecosystem. He is the co-founder of iSPIRT, a think tank focused on building the software product ecosystem in India. He has over two decades of experience in the Internet, Enterprise Software and Infrastructure markets. Earlier, he had co-founded Teltier, a wireless infrastructure startup now part of CISCO, and was also the head of Yahoo! India R&D. He has also held senior R&D role at VERITAS, Symantec, Lucent Technologies and AT&T. He was given the R&D Visionary Award by Zinnov in 2008. Sharad is an active technology angel investor.

Nischal Shetty

Nischal Shetty

Founder of WazirX

Nischal Shetty is the Founder of WazirX, India's largest crypto exchange with over 10 Million users. He is also the founder of an open-sourced, community-driven blockchain project called Shardeum. A passionate blockchain evangelist, he has been active in the Indian crypto space since its inception. Earlier he had founded Crowdfire, a social media management product with over 20 Million users. Nischal has been featured in Forbes '30 under 30' list. He has been active advocate for crypto regulation.

Rashmi Deshpande

Rashmi Deshpande

Partner, Khaitan & Co

Rashmi Deshpande is a Partner with Khaitan & Co dealing with Indirect Tax. Rashmi has significant experience in advisory and litigation matters and has advised clients in the financial, construction and pharmaceutical sectors. A member of the Bar Council, Rashmi is an alumnus of the ILS Law College in Pune. She has previously also worked at PwC, KPMG, BMR Advisors and Deloitte.

Subhash Chandra Garg

Subhash Chandra Garg

Former Finance Secretary

Subhash Chandra Garg was India's Finance Secretary and Economic Affairs Secretary between 2017-2019. A 1983 batch IAS officer, he has served in various key positions for both Union Government and Government of Rajasthan. He has three decades' experience in administration, management and public policy, in finance and several development sectors including agriculture, education, energy and rural development. Garg served as an Executive Director of the World Bank between 2014 and 2017. A law graduate from Rajasthan University, he is also a qualified Cost & Management Accountant.

What To Expect

The Union Budget 2022 laid out the roadmap for India's plans for a Central Bank Digital Currency. Finance Minister Nirmala Sitharaman said the RBI would launch its own digital rupee in 2022-23, marking the first official statement from the Union government on the launch of the much-awaited digital currency. The FM said the introduction of CBDC will boost the digital economy and it will be based on blockchain technology. The Reserve Bank of India (RBI) had earlier indicated that CBDC is on the cards even as the central bank is against the idea of permitting private virtual currencies.

The FM said the introduction of CBDC will further enhance India's status as a digital economy given its world-class digital payments system. But how will the digital rupee work? Is CBDC a cryptocurrency like Bitcoin? What are the risks associated with it? What will this mean for the future of private crypto tokens?

Catch an ace panel decode all this and more on Moneycontrol Masterclass.

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