MUMBAI, India, Dec. 12 -- Reserve Bank of India issued the following speech:
I. Introduction
Distinguished industry leaders, colleagues and guests.
1. It is a privilege to be able to stand here and talk to such a learned gathering and I am thankful to Mint for inviting me.
2. Money, as we know it, has been a central pillar of human society for centuries, enabling trade, facilitating economic activity, and underpinning the very notion of trust in social and financial interactions. Over time, the form of money has evolved with technology - from commodities to metal to paper to balances in deposit accounts to now, digital tokens. While the forms of money have evolved with technology, the fundamental character of money - what it represent...