<span style="color: #222222;">Government today said RBI is working towards a phased implementation strategy for the introduction of Central Bank Digital Currency.<br />''<br />'' In a written reply in Rajya Sabha, Minister of State for Finance Pankaj Chaudhary said introduction of CBDC has the potential to provide significant benefits.<br />''<br />''These include reduced dependency on cash, lower transaction costs and reduced settlement risk. He said the introduction of CBDC would also lead to a more robust, efficient, trusted, regulated and legal tender-based payments option.</span><br />