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The RBI had last year begun experiments on both the wholesale and retail versions of e-rupee using the blockchain distributed-ledger technology, as an alternative to cash.
Customers will be able to scan merchant UPI QR codes using the app and make the payment through digital currency.
The Reserve Bank of India (RBI) has introduced the e-Rupee, also known as the Central Bank Digital Currency (CBDC), to revolutionize the way financial transactions are conducted in the digital era. In 2022, the RBI had initiated a pilot project for the digital rupee in both the wholesale and retail markets with the aim of…
Canara Bank on Monday launched UPI Interoperable Digital Rupee mobile application as a part of the Reserve Bank of India's Central Bank Digital Currency (CBDC) pilot project. Canara Bank is the first Bank among public and private sector banks to introduce this feature in Banks CBDC mobile app called 'Canara Digital Rupee app'.
The Central Bank Digital Currency (CBDC) pilot project of the Reserve Bank of India included the debut of the UPI...