RBI backs blockchain technology, remains cautious on crypto: Guv Malhotra

•RBI Governor Sanjay Malhotra supports innovation in blockchain tech, but remains cautious on cryptocurrencies due to monetary sovereignty concerns.

•The RBI promotes underlying technologies like distributed ledger and tokenisation, using them in central bank and PPP modes.

•Malhotra highlights cross-border payments as a significant challenge, where CBDCs can be explored as alternative solutions.

•Rising public debt and hardening bond yields are driven by increased government and private spending, including AI investments.