New Delhi, Oct. 3 -- The Reserve Bank of India continues to take a cautious approach towards cryptocurrencies, while favouring the use of their underlying technologies and seeing central bank digital currencies as a possible way to address problems in cross-border payments, RBI Governor Sanjay Malhotra said on Saturday.

Speaking at the Fifth Kautilya Economic Conclave in New Delhi, Malhotra said concerns around cryptocurrencies included the singleness of money, implications for monetary policy and, particularly for emerging market economies, implications arising from capital flow restrictions.

"Our approach is we need to promote the underlying technologies, and we are using some of these in the central bank and outside in PPP mode. But ...