Key Points
To promote the Reserve Bank of India's digital rupee, state-owned Union Bank of India is planning to transfer claims related to various employee benefit schemes directly to the Central Bank Digital Currency (CBDC) wallet instead of employees' salary accounts...
"With an aim to promote CBDC wallet transactions, banks have been advised to encourage all staff members to transact using the digital currency and ensure 100% staff registration on digital rupee app," the bank said in a communication to employees on December 26...
To start with, the bank management has decided to credit newspaper allowance directly to the CBDC wallet..
"Your desire for 100% staff registrations on Digital Rupee App for using Central Bank Digital Currency (CBDC) should be limited within advice and encouragement and cannot lead to compelling the employees for doing so (sic)," said a letter from the union.. RBI launched CBDC - Retail on December 1, 2022..
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