The government is considering a proposal to join the Better Than Cash Alliance (BTCA), a global body which promotes digital payments.
Replying to another question on bitcoin, Sinha said RBI has not come across any information with regard to rise of "bitcoin currency base in the country".
The Reserve Bank, he added, has been examining the issues associated with the usage, holding and trading of virtual currencies, including bitcoins, under the existing legal and regulatory framework including foreign exchange and payment systems, laws and regulations. Bitcoin is the world's most widely used alternative currency with a total market cap of approximately USD 3.6 billion. The bitcoin network is made up of thousands of computers run by individuals all over the world. Bitcoin, a form of digital currency, is created and held electronically.