The Reserve Bank of India (RBI) introduced the digital rupee (e₹) as a Central Bank Digital Currency (CBDC) with the potential to transform the financial landscape. However, despite being launched over two years ago, it has yet to gain significant traction. By March 31, 2024, the total value of digital currency in circulation for retail … Read more
Kolkata: The Reserve Bank of India (RBI) is in talks with other major global central banks to promote digital rupee for cross-border payments, Governor Shaktikanta Das said, while the central bank allowed trade payments in rupees last year to enhance the local unit’s acceptability globally. “CBDC (central bank digital currency) is going to be the … Read more
File photo of Union Finance Minister Nirmala Sitharama | Photo Credit: PTI Digital or e-rupee worth over ₹130 crore is in circulation on a pilot basis as of February 28, finance minister Nirmala Sitharaman said on March 13. The Reserve Bank of India (RBI) had launched pilots in digital rupee in the wholesale segment (e₹-W) … Read more
Finance Minister Nirmala Sitharaman in her fourth budget speech announced that the Reserve Bank of India (RBI) will issue India’s own digital Rupee in Financial Year 2022-23. The digital Rupee is popularly known as Central Bank Digital Currency (CBDC). CBDC is the digital form of fiat currency that can be transacted using wallets based on … Read more