India's central bank Governor Shaktikanta Das has said that while their retail central bank digital currency (CBDC) pilot has over 5 million users, there should not be in any rush to roll out a system-wide CBDC.
The primary demand from India's crypto industry was to reduce the controversial tax-deducted-at-source (TDS) policy on crypto transactions from 1% to 0.01%
India’s general election in 2024 is not expected to immediately affect crypto policy, and its current – restrictive – rules are expected to continue on through the upcoming Parliamentary term.