India is one of several countries actively working to integrate Central Bank Digital Currencies (CBDCs) into their financial systems. Over the weekend, the International Monetary Fund (IMF) proposed a framework aimed at facilitating widespread adoption of CBDCs, known as REDI, which stands for Regulation, Education, Design and Deployment, and Incentives….
The Reserve Bank of India (RBI) is overseeing the creation and distribution of the eRupee CBDC for retail and wholesale payment purposes. The central bank’s approach towards exploring the inclusion of the eRupee into the existing financial system has been praised by Naveen Mallela, global co-head of Onyx, JPMorgan’s blockchain…
India’s digital Rupee, or eRupee central bank digital currency (CBDC), is presently in the advanced phases of its trials facilitated by 16 national banks. The eRupee has managed to amass five million users in its pilot stage, RBI Governor Shaktikanta Das claimed Monday. Das was speaking at a conference in…
Dubai-based ByBit crypto exchange has announced the integration of the eRupee CBDC with its peer-to-peer (P2P) transaction service. In an official statement, the exchange said it has received multiple requests from Indian merchants urging support for eRupee transactions. Since the eRupee is India’s RBI-issued digital currency, the merchants dealing in…
The Reserve Bank of India (RBI) released its latest report detailing the development and roadmap ahead for the digital finance industry. Among several innovations that the RBI praised in this report, the mention of the eRupee central bank digital currency (CBDC) did not go unnoticed. Built like crypto but regulated…
India’s eRupee CBDC, that is presently in its advanced trial period, is reportedly facing decline in terms of its usage. Citing sources familiar with the matter, a Reuters report has claimed that CBDC transactions that had hit the mark of one million transactions per day in December 2023, has dropped…
The Reserve Bank of Indi’s (RBI) eRupee or central bank digital currency (CBDC) is currently in an advanced trial phase with multiple national banks assisting the RBI in rolling out the digital currency. The usage of eRupee in the retail sector reportedly increased over the past year, according to data…
eRupee, the Indian central bank digital currency (CBDC), was reportedly used to process transactions worth Rs. 5.70 crore in the first four months since it entered the retail trials phase. The information was disclosed by the Reserve Bank of India (RBI) as it responded to an RTI query initiated by…
The Reserve Bank of India (RBI) is looking to adopt offline strategies to ensure that the eRupee CBDC enters the financial system of rural and remote parts of India. RBI governor Shaktikanta Das reportedly stated that the central bank plans to experiment with offline solutions to drive the adoption of…
The Reserve Bank of India (RBI) is aiming to clock one million transactions in India’s under-trial CBDC, the eRupee, daily by December. In order to accelerate number of CBDC transactions, the RBI is reportedly giving targets to banks to facilitate a minimum number of transactions in the form of the…
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