Good morning [%first_name |Dear Reader%],

If you track central bank developments around the world, you probably know by now that almost all of them are actively toying with the idea of issuing some form of digital currency. Some are further along than others, but most have taken their first steps—at least towards the drawing board, if not full-fledged implementation. 

That includes the Reserve Bank of India (RBI). 

So does that mean an e-rupee is just around the corner? 

Well, that’s what today’s Ka-Ching! is about. And it isn’t Arundhati or I who are breaking down this admittedly complex and hard-to-parse subject. No. For that, we have Anirudh Somani—a qualified chartered accountant with a post-doc from the Indian Institute of Management, Kozhikode, who works in the corporate finance team of a large Indian conglomerate. He’s also co-authored a story for The Ken earlier (you should check it out, if you haven’t already). 

Let’s dive in. 

Why the e-rupee is still some time away

By Anirudh Somani

Recently, during one of my long runs, a podcaster who I regularly listen to recommended a pamphlet-sized book by Nik Bhatia—Layered Money: From Gold and Dollars to Bitcoin and Central Bank Digital Currencies.