RBI Accelerates Digital Rupee Rollout, Targets Global CBDC Partnerships
The post RBI Accelerates Digital Rupee Rollout, Targets Global CBDC Partnerships appeared on BitcoinEthereumNews.com. The RBI is enhancing its digital rupee pilots by introducing programmability and offline capabilities to boost adoption and financial inclusion. It is also pursuing global CBDC collaborations to reduce cross-border transaction costs and elevate the Indian rupee’s global standing. The Reserve Bank of India is picking up the pace on its digital rupee pilot, rolling out new features that could actually make it useful for everyday life. They’re working on stuff like programmability and offline payments, which could make the Rupee (₹) way more flexible—especially in areas where internet access is spotty. They make the digital rupee work for everyone, whether you’re in a city or deep in the countryside, and maybe even set it up to play a bigger role globally down the line. Leveling Up India’s Digital Money System In its 2024–25 Annual Report, the RBI laid out how it plans to scale both the retail and wholesale versions of the digital rupee. The retail rollout, which kicked off with help from 17 banks, already has over 600,000 people trying it out. Now, the RBI’s letting some non-bank players get in on the action by handing out digital rupee wallets—a move that could seriously open things up and help more people start using it. According to the CNBC TV18 reports[, the RBI brought in four independent primary dealers to help test how this plays out in the real world—mainly stuff like bank-to-bank settlements or moving government bonds around. It’s not just a demo anymore; they’re clearly trying to push the limits and figure out what this tech can actually do. One of the coolest features in the pipeline is programmability. Think of it like adding smart rules straight into the digital rupee—so if the government drops a subsidy, it can’t be blown on stuff it wasn’t meant for,…
The post RBI Accelerates Digital Rupee Rollout, Targets Global CBDC Partnerships appeared on BitcoinEthereumNews.com.
The RBI is enhancing its digital rupee pilots by introducing programmability and offline capabilities to boost adoption and financial inclusion. It is also pursuing global CBDC collaborations to reduce cross-border transaction costs and elevate the Indian rupee’s global standing. The Reserve Bank of India is picking up the pace on its digital rupee pilot, rolling out new features that could actually make it useful for everyday life. They’re working on stuff like programmability and offline payments, which could make the Rupee (₹) way more flexible—especially in areas where internet access is spotty. They make the digital rupee work for everyone, whether you’re in a city or deep in the countryside, and maybe even set it up to play a bigger role globally down the line. Leveling Up India’s Digital Money System In its 2024–25 Annual Report, the RBI laid out how it plans to scale both the retail and wholesale versions of the digital rupee. The retail rollout, which kicked off with help from 17 banks, already has over 600,000 people trying it out. Now, the RBI’s letting some non-bank players get in on the action by handing out digital rupee wallets—a move that could seriously open things up and help more people start using it. According to the CNBC TV18 reports[, the RBI brought in four independent primary dealers to help test how this plays out in the real world—mainly stuff like bank-to-bank settlements or moving government bonds around. It’s not just a demo anymore; they’re clearly trying to push the limits and figure out what this tech can actually do. One of the coolest features in the pipeline is programmability. Think of it like adding smart rules straight into the digital rupee—so if the government drops a subsidy, it can’t be blown on stuff it wasn’t meant for,…
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