Sberbank predicted an outflow of two to four trillion rubles (around $5,5 billion), which are currently stored in banks, to the digital ruble. According to the credit institution, this can happen within three years.
Deputy Chairman of the Board of Sberbank Anatoly Popov said that now the market does not have a large liquidity surplus. "These funds (2-4 trillion rubles) will no longer be available for lending, which will eventually lead to a shortage of liquidity and, as a result, to an increase in rates," predicted Mr. Popov.
According to Popov, the flow of about 10 percent of non-cash funds into the digital ruble will lead to an increase in credit rates by half a percentage point.
Earlier, in October 2020, the Central Bank of Russia presented the concept of the digital ruble. It was supposed to take the form of a unique digital code stored in a special electronic wallet. The transfer of the digital ruble from user to user will take place in the form of moving a digital code from one electronic wallet to another.
It is expected that the digital ruble will become a full-fledged means of payment, just like the regular ruble, and will be able to be used by the population, business, and the state, ensuring simplicity of payments, their high speed, high reliability, and low costs.
The largest market participants supported the concept of the Central Bank, but Sberbank proposed to expand the properties of the digital currency to all non-cash money. According to the state bank, the payment system will benefit more from the evolution of the non-cash ruble than from the creation of an additional digital currency.
