The top official for the International Monetary Fund stated that regulating crypto assets with digital currency, addressing remaining regulatory concerns in the banking sector, and integrating with the global economy are among the few short-term structural challenges for India.
On Tuesday, the Financial Counselor and Director of the Monetary and Capital Markets Department- Tobias Adrian said that the IMF is looking at India in “a very positive fashion”.
According to him regulating crypto assets is certainly high on the agenda for the country when it comes to mid-term structural issues which India needs to address in the coming years.
He further added, “I think there are many opportunities and growth (in India is coming back). There’s a recovery. There’s a lot of excitement around new growth opportunities, and new developments”.
He said that IMF applauds the policy developments that Indian Central Bank is exploring in digital currencies. They are closely monitoring what India is doing in terms of financial inclusion and financial development.
In addition to addressing remaining regulatory concerns in the banking sector and in the nonbank sector, Adrian noted that the financial markets and financial institutions are critical for growth and economic development.