RBI to Launch Pilot for Deposit Tokenization

RBI to Launch Pilot for Deposit Tokenization

Also on October 7, the Reserve Bank of India (RBI) revealed plans to launch a pilot program for deposit tokenization. Under this plan, traditional deposits will be represented as digital tokens on a blockchain infrastructure.
The pilot will use the wholesale segment of India’s central bank digital currency (CBDC) as the underlying ledger layer, and will involve select banks in its initial testing phase.
RBI officials emphasized that integrity and enforceability must be established for such tokenization systems, and noted that tokenization may eventually extend to money market instruments like commercial paper.
This initiative could help accelerate adoption of blockchain in mainstream finance in India by integrating traditional banking deposits with digital infrastructure.