News with the tag "Digital Rupee"

On his final day in office, outgoing Reserve Bank of India (RBI) Governor Shaktikanta Das reaffirmed the transformative potential of India’s central bank digital currency (CBDC), commonly called the digital rupee. Speaking during his farewell address on December 10, Das reflected on his six-year ten...

Outgoing Reserve Bank of India Governor Shaktikanta Das envisions the digital rupee revolutionizing India’s economy, emphasizing gradual CBDC adoption.

India is weighing the risks of cryptocurrencies like Bitcoin and stablecoins while exploring the benefits of a Central Bank Digital Currency (CBDC). As regulators evaluate these technologies, a crypto ban is on the table. The RBI is also working to boost digital rupee adoption through UPI integratio...

Indian regulators are leaning towards prohibiting private cryptocurrencies like Bitcoin and Ethereum, stressing the advantages of Central Bank Digital Currencies (CBDCs). According to recent reports from The Hindustan Times, key government institutions consulted on cryptocurrency regulation favor a ...

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 initiatives to enhance cross-border payments, improve fin...

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 participation. These companies aim to facilitate transactions ...

India’s central bank, the Reserve Bank of India (RBI), has announced significant progress in its digital rupee initiative. As of June 2024, there are five million digital rupee users and 420,000 merchants participating in the retail central bank digital currency (CBDC) pilot. The RBI aims for the di...

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 that the digital rupee is designed to complement cash and ...

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 of Digital Rupee Bybit, a digital currency trading pl...

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) initially reached 1 million daily retail transactio...