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RBI Report Highlights India’s Central Bank Digital Currency Development

[Aug 21 6:30 AM] 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…

Google Pay, Amazon Pay, Walmart-Backed Phonepe Eye Entry Into RBI’s Digital Rupee Program

[Aug 6 2:30 AM] Google Pay, Amazon Pay, and Walmart-backed Phonepe are reportedly seeking to join India’s central bank digital currency (CBDC) initiative led by the Reserve Bank of India (RBI). Other fintech firms like Cred and Mobikwik are also seeking…

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

[Aug 1 11:20 AM] 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…

Bybit Launches Digital Rupee for Secure INR Payments

[Jul 30 3:21 PM] The crypto exchange Bybit has introduced a digital rupee (eRupee) as a new payment method for Indian rupee transactions. The launch aims to provide a secure alternative for INR users on its platform. Bybit Aims to Enhance INR Payments With Launch…

India’s Digital Rupee Usage Drops Drastically After Initial Surge

[Jun 25 8:35 PM] 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)…

India Working on Offline Transferability of Digital Rupee, Says Central Bank Governor

[May 7 7:46 PM] India’s central bank, the Reserve Bank of India (RBI), is in the process of making its central bank digital currency (CBDC) available without relying on internet access. RBI Governor Shaktikanta Das has emphasized the importance of ensuring…

India’s Digital Rupee Expands: Non-Banks to Offer Central Bank Digital Currency Wallets

[Apr 5 9:15 PM] India’s central bank has announced that it will enable non-bank payment system operators to offer central bank digital currency (CBDC) wallets. Noting that “necessary changes will be made to the system to facilitate this,” the…

India CBDC Insider Reveals Current Stance of Country's Central Bank

[Feb 1 6:30 PM] India’s central bank is taking a very cautious approach in developing its digital rupee, a senior official familiar with India’s central bank digital currency (CBDC) pilot programs told CoinDesk, though it's making some progress.

India's Digital Rupee Crossed a Million Transactions in 1 Day With Some Help From Banks

[Jan 4 9:20 AM] CoinDesk has viewed a letter dated Dec. 29 by the Reserve Bank of India (RBI) Governor Shaktikanta Das to staff that said the usage of the e-rupee (CBDC) "exceeded the milestone of 1 million transactions in a day on Dec. 27, 2023." A separate…

India’s Central Bank Seeking Privacy Legislation for Retail CBDC Users

[Mar 21, 2023 7:26 AM] India's central bank is advocating for legislation that will allow users of its retail central bank digital currency (CBDC) to delete any transactions in order to maintain anonymity.

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

[Mar 15, 2023 8:30 PM] 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…

India’s Central Bank Digital Currency Will Act as Alternative to Cryptocurrency, Says RBI Official

[Mar 3, 2023 9:30 PM] An official of India’s central bank, the Reserve Bank of India (RBI), says that the country’s central bank digital currency (CBDC) will act as an alternative to cryptocurrency. He stressed that the digital rupee must possess all the…

Digital Rupee Attracts 50,000 Users, India’s Central Bank Says

[Feb 12, 2023 7:30 AM] India’s central bank, the Reserve Bank of India (RBI), has announced that 50,000 users have adopted the nation’s central bank digital currency (CBDC), the digital rupee. In a press conference on Wednesday, RBI’s Deputy Governor Rabi Sankar stated…

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

[Feb 11, 2023 11:00 PM] 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…

Crypto could spark the next financial crisis, says India’s RBI head

[Dec 21, 2022 8:10 PM] Reserve Bank of India Governor Shaktikanta Das warned that if crypto becomes regulated and is allowed to grow, it could cause the next financial meltdown.

India’s Central Bank Digital Currency Should Be Able to Do Anything Cryptocurrency Can Do With No Risk, Official Claims

[Dec 5, 2022 10:30 PM] An Indian central bank official claims that if there is anything cryptocurrencies like bitcoin and ether can do, the Reserve Bank of India (RBI) should be able to create a product that will do the same job without the associated risks. “This…

RBI Begins First Retail Digital Rupee Pilot in 13 Indian Cities With 8 Banks

[Nov 29, 2022 11:00 PM] India’s central bank, the Reserve Bank of India (RBI), is launching its first retail digital rupee pilot on Dec. 1 with the participation of eight banks. The pilot will start in four cities and then expand to cover nine more cities across…