India's Finance Minister Nirmala Sitharaman has called for global preparedness for stablecoins, sparking renewed debate on digital currencies at the 2025 Global Fintech Festival. Pine Labs CEO Amrish Rau and RBI Innovation Hub CEO Sahil Kini highlighted the potential benefits and risks of programmable digital currencies. Rau emphasized that such currencies could enhance efficiency and transparency by restricting fund usage. Meanwhile, Kini pointed out that India's central bank digital currency already facilitates specific-use payments and is testing digital subsidies, but cautioned that stablecoins might undermine central bank authority. Both executives questioned the need for stablecoins amid India's evolving payment infrastructure.