The Reserve Bank of India (RBI) Deputy Governor T. Rabi Sankar on April 5 said the volumes of central bank digital currency (CBDC) is increasing after making it interoperable with Unified Payments Interface (UPI).
“CBDC volumes increased after making it interoperable with UPI. The volumes are shifting to P2M, from P2P,” Sankar said during post policy press conference.
He further added that there are around 46 lakh users, 4 lakh merchants and total transaction is Rs 2.2 crore so far.
“In the last policy we have mentioned about programmability and first has started today,” Sankar added.
Offline users in CBDC is in closed groups of banks and is still testing. It has already been developed. Once it settles, we will open,” Sankar said.
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