[Indian Central Bank Rejects G7 Stablecoin Regulatory Model, Upholds Monetary Sovereignty] According to Financefeeds, as reported by Golden Finance, Reserve Bank of India (RBI) Deputy Governor T. Rabi Sankar has explicitly stated that India will not adopt the U.S. 'GENIUS Act' or other G7 countries' stablecoin regulatory frameworks. RBI believes that dollar-pegged stablecoins pose a fundamental threat to India's monetary sovereignty, potentially leading to 'dollarization' and weakening the effectiveness of domestic monetary policy. The Indian central bank emphasized that the country already has efficient digital payment systems (UPI, RTGS, NEFT) and does not need private stablecoins. It will continue advancing its own central bank digital currency (CBDC) e-rupee pilot project as the preferred direction for blockchain technology applications. Despite hints from the Ministry of Finance about possibly considering a stablecoin framework, RBI remains steadfast in adhering to domestic priorities as its guiding principle.