Rbi Digital Currency

The State Bank of India (SBI) announced it has implemented Unified Payments Interface (UPI) interoperability in Digital Rupee, also called as Central Bank Digital Currency (CBDC).

The largest private sector lender HDFC Bank on Thursday claimed that it has on-boarded over 1 lakh customers and more than 1.7 lakh merchants on the CBDC pilot programme and activated an interoperable UPI QR code with the e-rupee platform.

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. Currently, large state-owned and private lenders, including State Bank of India, Bank of Baroda, ICICI Bank, HDFC Bank, Ko...

At present, the number of CBDC or e-rupee transactions stands at about 5,000 to 10,000 a day.

The Reserve Bank of India (RBI) will withdraw Rs 2,000 denomination banknotes that were in circulation since 2016. The central bank mentioned several reasons that influenced its decision to withdraw the currency notes.

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 mode using the bank's e-Rupee platfor...

The RBI and the UAE central bank on Wednesday signed an agreement to enhance cooperation in various areas, including exploring interoperability of Central Bank Digital Currencies (CBDC).

CBDC trials in India have been expanded to 50,000 testers, and the RBI has temporarily halted onboarding newer testers. The central bank of India aims to take a slow and steady approach around its digital rupee. In the last two months, over 770,000 transactions have been facilitated via the digital rupee so far in select cities.

Five more banks will join the pilot on the central bank digital currency or e-rupee for retail customers and the project will be extended to nine additional cities, the Reserve Bank said on Wednesday. The Reserve Bank of India, which began piloting the central bank digital currency or e-rupee for retail customers in early December with eight banks ...

The pilot project started on December 1 has witnessed 7.70 lakh transactions, and is now being carried out in five cities, Deputy Governor T Rabi Sankar said.

Anand Mahindra claimed that he learned about the e-rupee during a meeting of the RBI board and immediately started using it to purchase fruit from a vendor.

Cryptocurrency could see more regulatory norms in 2023, after a year of turbulence that saw the collapse of massive trading platform FTX. The Reserve Bank of India has been forthright about its views on cryptocurrency and its Governor Shaktikanta Das said last month that cryptocurrencies should be "prohibited" and that if they are allowed to grow "...

RBI governor Shaktikanta Das said on Wednesday that the next financial crisis would be caused by private cryptocurrencies. He also added that digital currencies have no underlying value and pose risks for macroeconomic and financial stability, and reiterated his view that they should be banned.

Central Bank Digital Currency pilot in the retail segment has components backed by blockchain technology and has several common features with physical cash, Minister of State for Finance Pankaj Chaudhary told the Lok Sabha on Monday.

Some of the early CBDC experimenters like China, Sweden and South Korea have already moved away from physical cash to a large extent.

The State Bank of India (SBI) announced it has implemented Unified Payments Interface (UPI) interoperability in Digital Rupee, also called as Central Bank Digital Currency (CBDC).

The largest private sector lender HDFC Bank on Thursday claimed that it has on-boarded over 1 lakh customers and more than 1.7 lakh merchants on the CBDC pilot programme and activated an interoperable UPI QR code with the e-rupee platform.

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. Currently, large state-owned and private lenders, including State Bank of India, Bank of Baroda, ICICI Bank, HDFC Bank, Ko...

At present, the number of CBDC or e-rupee transactions stands at about 5,000 to 10,000 a day.

The Reserve Bank of India (RBI) will withdraw Rs 2,000 denomination banknotes that were in circulation since 2016. The central bank mentioned several reasons that influenced its decision to withdraw the currency notes.

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 mode using the bank's e-Rupee platfor...

The RBI and the UAE central bank on Wednesday signed an agreement to enhance cooperation in various areas, including exploring interoperability of Central Bank Digital Currencies (CBDC).

CBDC trials in India have been expanded to 50,000 testers, and the RBI has temporarily halted onboarding newer testers. The central bank of India aims to take a slow and steady approach around its digital rupee. In the last two months, over 770,000 transactions have been facilitated via the digital rupee so far in select cities.

Five more banks will join the pilot on the central bank digital currency or e-rupee for retail customers and the project will be extended to nine additional cities, the Reserve Bank said on Wednesday. The Reserve Bank of India, which began piloting the central bank digital currency or e-rupee for retail customers in early December with eight banks ...

The pilot project started on December 1 has witnessed 7.70 lakh transactions, and is now being carried out in five cities, Deputy Governor T Rabi Sankar said.

Anand Mahindra claimed that he learned about the e-rupee during a meeting of the RBI board and immediately started using it to purchase fruit from a vendor.

Cryptocurrency could see more regulatory norms in 2023, after a year of turbulence that saw the collapse of massive trading platform FTX. The Reserve Bank of India has been forthright about its views on cryptocurrency and its Governor Shaktikanta Das said last month that cryptocurrencies should be "prohibited" and that if they are allowed to grow "...

RBI governor Shaktikanta Das said on Wednesday that the next financial crisis would be caused by private cryptocurrencies. He also added that digital currencies have no underlying value and pose risks for macroeconomic and financial stability, and reiterated his view that they should be banned.

Central Bank Digital Currency pilot in the retail segment has components backed by blockchain technology and has several common features with physical cash, Minister of State for Finance Pankaj Chaudhary told the Lok Sabha on Monday.

Some of the early CBDC experimenters like China, Sweden and South Korea have already moved away from physical cash to a large extent.