Shaktikanta Das Departs RBI, Stresses Potential of Digital Rupee for India’s Economy
On his final day as Governor of the Reserve Bank of India (RBI), Shaktikanta Das outlined his vision for India’s economic transformation through the adoption of the central bank digital currency (CBDC), the digital rupee. In his farewell address on 10th December, Das reflected on his six-year tenure, during which he championed technological innovation. Notable […]
India’s CBDC Progress Takes Centre Stage at RBI@90 Global Conference
During the RBI@90 Global Conference, Shri Shaktikanta Das, Governor of the Reserve Bank of India (RBI), shed light on the significant strides India has made in its progress towards a Central Bank Digital Currency (CBDC). Speaking from Bengaluru, the hub of India’s technology revolution, Governor Das underscored the critical role that CBDC plays in shaping […]
Digital Payment Giants Seek to Join India’s Digital Rupee CBDC Pilot
Google Pay, PhonePe, and Amazon Pay are among five prominent payment firms seeking to participate in the Indian central bank’s digital currency pilot, offering transactions via the e-rupee. This information comes from three Reuters sources directly involved in the discussions. The other two applicants are Indian fintech companies Cred and Mobikwik. The Reserve Bank of […]
India’s Banks Set to Launch Wholesale CBDC by January Next Year
In a significant move towards embracing digital currency, Indian banks are gearing up to launch a wholesale Central Bank Digital Currency (CBDC) by January next year. This initiative aims to cautiously test the infrastructure required for digital currency transactions, specifically targeting small and medium enterprises (SMEs) in its initial phase. A senior bank official explained […]
IDEMIA, Airtel, and Nokia Collaborate for Offline CBDC Payments on Feature Phones
IDEMIA, in partnership with Airtel Payments Bank and Nokia’s parent company, HMD Global, has unveiled an initiative to introduce an offline Central Bank Digital Currency (CBDC) payment application for feature phones in India. This collaboration aims to enhance the reach of offline CBDC payments, making it more accessible and convenient for users across the country. […]
India Plans For Wholesale CBDC Expansion into Call Money Markets and Retail CBDC to Reach 1 Billion Transactions Per Day
In an ambitious expansion of the Digital Rupee pilot studies, the Reserve Bank of India (RBI) is set to broaden the reach of its Central Bank Digital Currency (CBDC) initiatives. Notably, the wholesale CBDC is poised for integration into the interbank and call money market. Concurrently, the RBI harbors hopes of achieving a remarkable milestone […]
Axis Bank Empowers Users with UPI Integration in Digital Rupee App
Axis Bank, a leading private sector bank in India, has revealed a significant enhancement to its CBDC app, ‘Axis Mobile Digital Rupee’, by introducing UPI interoperability capabilities. This notable feature aims to empower customers to effortlessly utilise the Digital Rupee for settling payments through established UPI QR codes of various merchants. What’s more, this advancement […]
Japanese Startup Soramitsu Harnesses CBDCs and Stablecoins for Cross-Border Payments
Japanese Blockchain startup, Soramitsu, is embarking on a venture that involves harnessing stablecoins and central bank digital currencies (CBDCs) to forge connections among various Asian nations. Soramitsu’s initiative revolves around a cross-border payment system tailored for Asian countries. The company plans to integrate Cambodia’s CBDC and fiat-pegged stablecoins into its payment network, with a specific […]
Challenges and Prospects for BRICS Common Currency: Insights from Bank of Russia’s Governor
Unraveling BRICS Common Currency Challenges & Prospects: Bank of Russia’s Insights. Explore economic comparisons & complexities in this financial landscape.
India Targeting One Million CBDC Users in Three Months, Prioritizing Offline Transfers: Sources
Source: Coindesk India’s retail central bank digital currency (CBDC-R) architects are aiming to scale the user base of the digital rupee to one million users, and have prioritized solving the challenge of creating an offline version, two people familiar with the matter told CoinDesk. Although RBI officials publicly stated in March they were aiming for 500,000 […]
