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digital rupee

rbi-report-highlights-india’s-central-bank-digital-currency-development

RBI Report Highlights India’s Central Bank Digital Currency Development

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India’s central bank, the Reserve Bank of India (RBI), published its August bulletin on Monday. The report discusses several aspects of central bank digital currency (CBDC) and its implications. The RBI is actively involved in developing CBDC initiatives to enhance cross-border payments, improve financial inclusion, and mitigate risks posed by private digital instruments. The RBI’s […]

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india’s-digital-rupee-surpasses-5-million-users,-rbi-discloses

India’s Digital Rupee Surpasses 5 Million Users, RBI Discloses

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India’s central bank, the Reserve Bank of India (RBI), has revealed that as of June, there were five million digital rupee users and 420,000 merchants participating in the retail central bank digital currency (CBDC) pilot. The RBI emphasized that the digital rupee is designed to complement cash and existing payment systems, serving both wholesale and

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india’s-digital-rupee-usage-drops-drastically-after-initial-surge

India’s Digital Rupee Usage Drops Drastically After Initial Surge

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India’s central bank digital currency (CBDC), the digital rupee, has experienced a significant decline in usage, decreasing to a tenth of its peak in December 2023, according to sources involved in the pilot project. The Reserve Bank of India (RBI) initially reached 1 million daily retail transactions with the digital rupee by incentivizing banks and

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india,-uae-collaborate-to-boost-cross-border-central-bank-digital-currency-transactions

India, UAE Collaborate to Boost Cross-Border Central Bank Digital Currency Transactions

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India’s central bank, the Reserve Bank of India (RBI), and the Central Bank of the United Arab Emirates (UAE) have agreed to collaborate on cross-border central bank digital currency (CBDC) transactions of remittances and trade. The initiative is “expected to reduce costs, increase efficiency of cross border transactions and further the economic ties between India

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india’s-central-bank-reveals-50,000-users-and-5,000-merchants-now-using-digital-rupee

India’s Central Bank Reveals 50,000 Users and 5,000 Merchants Now Using Digital Rupee

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India’s central bank, the Reserve Bank of India (RBI), has revealed that 50,000 users and 5,000 merchants are now using its central bank digital currency (CBDC). Digital rupee transactions are currently processed by eight banks, with five more banks set to join the pilot soon, said RBI Deputy Governor T. Rabi Sankar. Digital Rupee Now

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