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Indian digital currency

India’s Digital Rupee Usage Drops Drastically After Initial Surge

India’s Digital Rupee Usage Drops Drastically After Initial SurgeIndia’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) initially reached 1 million daily retail transactions with the digital rupee by incentivizing banks and […]

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India’s Central Bank RBI Discusses Digital Currency and CBDC Launch With Minimal Impact on Monetary Policy

India’s Central Bank RBI Discusses Digital Currency and CBDC Launch With Minimal Impact on Monetary PolicyIndia’s central bank, the Reserve Bank of India (RBI), says a basic central bank digital currency (CBDC) model must be adopted initially and tested comprehensively to minimize the impact on the country’s monetary policy and banking system. The Indian apex bank sees several benefits in launching a digital rupee, including “a potential to enhance the […]

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