The Reserve Bank of India plans to move to the next stage of its central bank digital currency (CBDC) pilots by rolling out programmability and offline payments. Reserve Bank Governor Shaktikanta Das shared the news during a Monetary Policy Committee press conference.
India started digital rupee pilots for both a retail and wholesale CBDC in late 2022. The CBDC reached a milestone of a million transactions within a day at the end of 2023.
For the retail CBDC, the central bank plans to experiment with multiple offline solutions in various locations, such as rural and mountainous areas and urban environments.
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