Reserve Bank of India (RBI) rolled out pilot testing of India’s Central Bank Digital Currency (CBDC) e-Rupi in the wholesale as well as retail segment in 2022. In July, the RBI said it is targeting one million CBDC transactions per day by the end of 2023. With both wholesale and retail pilots live in the country, the RBI has joined 17 other central banks including China and South Korea whose pilots are underway.
What factors have led to the emergence of central bank digital currencies (CBDCs) and how does the decreasing use of cash worldwide impact the unbanked population's ability to participate in the economy? What are the potential benefits of CBDC in terms of financial inclusion and government initiatives to distribute benefits or fiscal stimulus payments?
What are the available technological solutions to address the concern of privacy in a CBDC system, and how do they aim to protect the anonymity of transactions and balances? What are the potential implications of 90 percent of the world's central banks exploring CBDCs for the current financial ecosystem? Listen in for more
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