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E-rupee in circulation jumps to ₹1,016 crore in previous fiscal
Millennium Post Kolkata
|Kolkata 30May2025
RBI EXPLORING CROSS-BORDER CBDC PILOTS
MUMBAI: The value of central bank digital currency (CBDC) or e-rupee in circulation jumped to Rs 1,016 crore at the end of March 2025 from Rs 234 crore in the year-ago period, the Reserve Bank said on Thursday.
The RBI is exploring the commencement of CBDC pilots on cross-border payments, it said in the annual report without giving a timeline.
The CBDC was first introduced in November 2022 initially with a wholesale pilot, which was followed up with a retail one as well. Simplifying cross-border payments was one of the stated advantages of the CBDC, which had to be introduced in face of the challenge to the currency system from non-fiat virtual currencies like Bitcoins.
"...the Reserve Bank is exploring commencement of CBDC pilots on cross-border payments both on bilateral and multilateral basis to overcome key challenges related to turnaround time, efficiency and transparency," it said.
Dit verhaal komt uit de Kolkata 30May2025-editie van Millennium Post Kolkata.
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