RBI plans CBDC pilot expansion for cross-border use

Kiswahili

The Reserve Bank of India intends to broaden its digital rupee pilot this fiscal year. It is also exploring central bank digital currency applications in international transactions.

The Reserve Bank of India plans to expand its digital rupee pilot to additional direct benefit transfer schemes and the domestic retail space during the current fiscal year. Officials are simultaneously examining CBDC applications for cross-border transactions through signed memoranda of understanding and bilateral discussions aimed at launching pilot projects.

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Illustration of Bank of Korea expanding CBDC pilot with nine banks, featuring digital currency elements.
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Bank of Korea to expand CBDC pilot with nine banks in September

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The Bank of Korea will launch the second phase of its Central Bank Digital Currency pilot in September. The expansion will involve nine major banks and real-transaction testing using deposit tokens.

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