India’s Union Budget 2022 resolves some of the uncertainty around the legitimacy of crypto assets. While crypto assets will not be considered as currency, the Reserve Bank of India will be launching a blockchain-based digital rupee this year. Establishment of a self-regulatory body to oversee operations of lending platforms is recommended. The Reserve Bank has mandated that banks complete the shift from magnetic stripe debit and credit cards to EMV chip-and-PIN cards by Jan. 1 to help reduce fraud, there’s still plenty of work to be done.”]
Source: https://www.cuinfosecurity.com/rbi-guidelines-india-c-437