India's central bank (RBI) Governor Sanjay Malhotra stated at the Kautilya Economic Conclave that India remains cautious regarding cryptocurrencies due to potential ramifications for monetary sovereignty, monetary policy, and capital flow. However, the RBI strongly supports digital asset technologies such as distributed ledger technology and tokenization. Malhotra emphasized that privately issued crypto assets could disrupt the principle of “singleness of money” and noted that India already possesses robust domestic payment infrastructure, suggesting central bank digital currencies and interconnected regulated payment systems as alternatives for cross-border payments.