Reserve Bank of India Governor Shaktikanta Das told cryptocurrencies a big danger

Would like Bitcoin cryptocurrencies threat to Indian economy?
This is the view of the Reserve Bank. The Reserve Bank on Wednesday once again expressed its objection to cryptocurrencies. The central bank says cryptocurrencies pose a serious threat to macroeconomic and financial stability.

Reserve Bank Governor Shaktikanta Das at an event here reiterated his views on not allowing cryptocurrencies, saying the currency does not come under the purview of central banks' regulation.

In such a situation, it is a big risk for any financial system. Das's statement comes ahead of the Reserve Bank's internal committee's report on cryptocurrencies. This report is expected next month.

Reserve Bank is engaged in rebalancing monetary policy

Reserve Bank of India Governor Shaktikanta Das said on Wednesday that monetary policy rebalancing is a complex and lengthy process, saying the monetary measures taken to ensure liquidity to the sectors hit by the pandemic are fruitful.

Das said that with the outbreak of the Kovid-19 epidemic, whatever steps the central bank took towards maintaining liquidity, proved to be favorable to the situation. Das said, "We are trying to balance the liquidity in the financial system." Bringing it back to normalcy after a long crisis is not like wrapping a carpet.