The Reserve Bank of India (RBI) is planning to introduce India’s own Central Bank Digital Currency (CBDC) in a phased manner, which will not just seek to curb “damaging consequences” of private virtual currencies but may also impact bank deposits. CBDC will be India’s sovereign currency in an electronic form.

https://www.financialexpress.com/money/how-will-rbis-cbdc-impact-bank-deposits-payments-and-private-cryptocurrencies-5-points/2296470/