RBI Advocates CBDCs Over Stablecoins to Safeguard Monetary Sovereignty
- Monetary Sovereignty Protection: The Reserve Bank of India (RBI) warns that privately issued stablecoins could threaten national monetary sovereignty, advocating for CBDCs like the e-rupee as a financial anchor to reduce dollar outflows and enhance the resilience of the domestic financial system.
- Clear Policy Direction: RBI Deputy Governor T. Rabi Sankar mentioned ongoing exploration of various CBDC use cases, indicating that the government's emphasis on CBDCs will drive innovation in payment infrastructure, improving the efficiency and security of financial transactions.
- Stablecoin Risk Assessment: The RBI highlights that stablecoins could undermine the effectiveness of monetary policy, emphasizing the advantages of CBDCs in terms of efficiency and instant settlement, which further solidifies central bank credibility and ensures financial stability.
- Emerging Digital Finance: By promoting CBDCs, India's regulatory stance may guide the future development of digital finance, enhancing the role of the rupee in both domestic and international transactions and strengthening the country's position in the global financial system.
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Technical Analysis for BANK
Technical Sentiment Analysis for Lorenzo Protocol (BANK) As of , Lorenzo Protocol (BANK) is exhibiting a Neutral technical sentiment. Our proprietary analysis, which aggregates 11 technical signals, shows that 5 indicators are flashing buy, while 6 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for BANK stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the stock.
Support, Resistance & Moving Averages From a structural perspective, BANK is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Lorenzo Protocol (BANK) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.00256 | 0.0161 | 0.0264 | 0.0399 | 0.0502 | 0.0637 | 0.074 |
| Fibonacci | 0.0161 | 0.0252 | 0.0308 | 0.0399 | 0.049 | 0.0546 | 0.0637 |
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