India’s recently launched in-house CBDC is now being tested for offline functionality, revealed RBI executive director. Last year, UPI enabled 7,404.45 crore transactions, totaling Rs. 125.95 lakh crore. The digital rupee (e), India’s recently launched in-house central bank digital currency (CBDC), is now being tested for offline functionality, revealed Ajay Kumar Choudhary, executive director of […]
India’s recently launched in-house CBDC is now being tested for offline functionality, revealed RBI executive director.The digital rupee , India’s recently launched in-house central bank digital currency , is now being tested for offline functionality,
Based on this progress, Choudhary stated that the RBI is investigating the offline functionality of CBDC. In an interview with CNBC TV18, he stated that the central bank is assessing the CBDC’s potential for cross-border transactions and integration with legacy systems in other countries.Choudhary iterated that the CBDC will soon become a medium of exchange and will require all of the characteristics of physical currency, including the anonymity.
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