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State Bank of India (SBI) implements UPI interoperability in its Digital Rupee, aiming to revolutionize digital payments
The Reserve Bank is planning to extend wholesale Central Bank Digital Currency (CBDC) for transactions for interbank borrowing or call money market, sources said on Tuesday. The pilot in the wholesale segment, known as the Digital Rupee -Wholesale (e₹-W), was launched on November 1, 2022, with the use case being limited to the settlement of secondary market transactions in government securities. 'RBI is now planning to go into the interbank borrowing market.
India’s Yes Bank has integrated unified payments interface (UPI) compatibility on the Reserve Bank of India (RBI) Central Bank Digital Currency (CBDC) app.…
With the use of this innovative innovation, customers of the SBI CBDC will be able to quickly scan any retailer's UPI QR code for quick and secure transactions.
"The seamless integration of CBDC with UPI marks a significant leap for the bank, enhancing the acceptance and utilization of digital currencies in everyday transactions. SBI feels that this integration will be a game changer for the digital currency ecosystem," the bank said in a statement.