Key Points
In what is an ambitious e-rupee payments goal, the Reserve Bank is seeking to drive daily CBDC transactions to 10 lakh from up to 10,000 by the year-end, ToI reported on July 12..
The RBI had launched the e-rupee for retail transactions on a pilot basis on December 1, 2022..
Interoperability would enable any merchant accepting UPI payments to also accept CBDC, RBI deputy governor T Rabi Sankar said..
The 10 lakh CBDC payments target was not too high considering that UPI transactions stand at 31 crore, Sankar said..
Many institutions, including the Bank for International Settlements (BIS), are exploring CBDCs to address cost and time inefficiencies in cross-border transactions, Sankar said.. (Catch all the Business News, Breaking News Events and Latest News Updates on The Economic Times.)..
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