Several countries, including India, are expanding central bank digital currency (CBDC) trials, hoping to integrate then with their existing financial systems. The Reserve Bank of India has proposed the expansion of support for the digital rupee CBDC within the retail ecosystem beyond banks. In the coming days, the RBI is…
The State Bank of India (SBI) has announced the implementation of Unified Payments Interface (UPI) interoperability with the Digital Rupee, also called as Central Bank Digital Currency (CBDC). With this move, SBI aims to deliver convenience and accessibility to its customers. This feature, accessible through the ‘eRupee by SBI’ application…
The Reserve Bank of India (RBI) has called on a wider set of lenders to take part in pilot programmes using the central bank digital currency (CBDC) as it tries to increase transactions, three bankers told Reuters on Wednesday. Nearly two dozen central banks across emerging and advanced economies are…
Reliance General Insurance on Wednesday said it has become a forerunner general insurance company in the country to accept the Reserve Bank of India’s (RBI) Central Bank Digital Currency e-Rupee for premium payments. The company has tied up with Yes Bank to facilitate the collection of premiums in the digital…
India’s digital rupee CBDC, officially stepped into its retail trial period in four cities — New Delhi, Mumbai, Bengaluru, and Bhubaneswar, on Thursday, December 1. The State Bank of India, ICICI Bank, Yes Bank, and IDFC First bank are the lenders that are participating in these trials, and upon completion,…
The Reserve Bank of India (RBI) is expanding the use cases of its digital rupee CBDC. Starting December 1, the testing for the Indian CBDC for retail purposes will kickstart in select regions in the country. Built on blockchain, the digital rupee is a virtual representation of India’s fiat currency…
The Reserve Bank on Friday said it will soon commence the pilot launch of e-rupee for specific use cases with a view to bolstering India’s digital economy, making payment systems more efficient, and checking money laundering. In a concept note on Central Bank Digital Currency, the RBI said CBDC is…
The Reserve Bank of India’s (RBI) Deputy Governor T Rabi Sankar has stated that the country’s upcoming Central Bank Digital Currency (CBDC) could be viewed as a tool that greatly reduces time and cost for cross-border transactions. Referring to the RBI’s ‘Digital Rupee’ project, which was announced in the Union…
Indians are eagerly awaiting the launch of the Digital Rupee CBDC that is expected to be rolled-out for the current fiscal 2022-23. The Reserve Bank of India (RBI) has released a report stating that this CBDC will be in alignment with the country’s existing monetary policies as well as payment…
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