Digital Rupee

The meeting happens against the backdrop of declining usage of CBDC at the wholesale level and retail level. Despite a push from some banks and the regulator and interoperability with UPI, CBDC has been losing popularity

How Digital Rupee will revolutionise cross-border payments and remittances

International payments have endured inefficiencies, leading to slower, less transparent, and costlier transactions, compared to domestic payments. With the emergence of the Digital Rupee, more people can reap benefits like instant fund transfers, increased security, and lower currency volatility.

Will consumers ditch cash and UPI to embrace e-rupee?

To make the e-rupee popular, the RBI needs to address the deep-seated preference for cash, the ubiquity of UPI, and the need to strike a balance between innovation and familiarity

Airtel Payments Bank, IDEMIA, HMD team up to enable use of digital rupee on feature phones

All three organizations would be working together to introduce an advanced offline payment system over the next few months

CBDC retail pilot: Some customers complain of technical glitches in apps, transactions

Customers of HDFC Bank, ICICI Bank, Yes Bank, Bank of Baroda and IDFC First Bank who participated in the retail digital rupee pilot have complained of technical problems and issues while making payments

Cryptocurrency roundup for February 3: Kraken Shuts Abu Dhabi office, Berkshire Hathaway VC slams cryptocurrencies as form of gambling, and more

A daily round-up of the most interesting articles on cryptocurrencies like Bitcoin, Ethereum and Tether to help jump-start the day.

Reliance Retail to now accept Digital Rupee, a first for Indian retailer

Reliance Retail has partnered with Innoviti Technologies, ICICI Bank & Kotak Mahindra Bank to enable acceptance of Digital Rupee

Anand Mahindra learns of e-rupee from RBI meeting, uses it to buy fruit. Watch

The video shows Anand Mahindra scanning the e-rupee QR code from the fruit vendor before making the payment and then showing him the completed transaction.

How RBI’s design choices will affect the demand for e₹

The RBI’s problem is that it can design a good e₹. But not the best. A tilt towards complete transaction traceability may deprive users of privacy

Live: South Indian Bank CEO & MD Murali Ramakrishnan On Budget Expectations, Credit Target And CBDC

South Indian Bank has produced two financially healthy quarters and is expecting double-digit growth in the coming quarter. In an exclusive interview with Moneycontrol, Murali Ramakrishnan spoke about a range of issues including the bank’s strategy to grow as a pan-India bank, trends in credit and business growth and expectations from the 2023 Union Budget.

Digital rupee a game changer, says SBI Chairman Dinesh Khara

The pilot project for retail digital rupee, RBI's central bank digital currency (CBDC) started in Mumbai, New Delhi, Bengaluru and Bhubaneswar on Thursday

Digital rupee will co-exist rather than compete with UPI: Experts

An ecosystem needs to be built for the retail adoption of the e-Rupee, like cashbacks on UPI apps, which are a great pull for the user, say experts.

Moneycontrol Selects: Top stories this evening

Our specially curated package of the most interesting articles to help you stay at the top of your game.

India cenbank to start pilot of retail digital rupee on December 1

The pilot would cover select locations in a closed user group comprising participating customers and merchants, the central bank said.

RBI to launch first pilot for retail digital rupee on December 1

Eight banks have been identified for phase-wise participation in this pilot, the RBI said, adding that the testing phase would initially cover only four cities - Mumbai, New Delhi, Bengaluru and Bhubaneswar.

Billionaire Nikhil Kamath says those critical of digital rupee 'might be missing the big picture'

Zerodha co-founder Nikhil Kamath's statement ignited another debate on the digital rupee with most voicing concerns over safety.

First pilot of Digital Rupee to commence on Tuesday: RBI

The use case for the pilot is settlement of secondary market transactions in government securities, the RBI said in a statement on Monday.

SBI, HDFC Bank, 7 others identified for participation in digital rupee’s wholesale pilot: RBI

The pilot will commence on November 1, the RBI said in a release. The use case for the wholesale pilot is settlement of secondary market transactions in government securities

e₹ | RBI’s conception of the CBDC is progressive

While there is much to laud in RBI’s concept note, there are some missed opportunities — crucially cross-border remittance, and the potential for leadership in international co-operation in this regard

RBI takes its first steps on digital currency, but is it really a giant leap for finance?

The RBI has addressed most of the misgivings about the Central bank Digital Currency (CBDC) in its concept note, but it doesn’t make a compelling case why it’s needed 

With e₹, India joins the CBDC bandwagon

The CBDCs can help in reducing operational costs in physical cash management, foster financial inclusion, and bring further innovation in the payments system without risks

RBI in talks with 4 banks, fintechs for digital currency launch this financial year

The RBI is working on phased implementation of CBDC in both the wholesale and retail segments, RBI ED Ajay Kumar Choudhary said in July.

India aims to roll out digital currency by next year: FM Nirmala Sitharaman

"The government and RBI are looking into its several commercial use purposes and not just financial inclusion, which is largely achieved through the JAM trinity (Jan Dhan-Aadhaar-Mobile)," she said.

Digital Rupee | Will commercial banks still be needed for credit creation?

With the digital rupee, the RBI would be able to the increase the effectiveness of monetary policy by directly changing interest rates on deposits and/or lending

Digital Rupee | Will people still deposit money in commercial banks?

While the consequences of CBDCs on cryptocurrencies like Bitcoin and Ethereum are attracting widespread attention, it is the possible repercussions of CBDCs on the commercial banking system that could be far more disruptive