RBI To Pilot Offline & Programmable Retail CBDCs

RBI To Pilot Offline & Programmable Retail CBDCs

SUMMARY

In its monetary policy statement, the central bank said that it will enable additional functionalities such as offline capability and programmability for CBDC retail payments

RBI also plans to pilot proximity and non-proximity-based offline solutions in hilly and rural areas to expand the offline functionality of retail CBDCs

RBI first began piloting retail CBDC in December 2022 and achieved the target of 10 Lakh transactions a day, a year later

The Reserve Bank of India (RBI) on Thursday (February 8) announced plans to ramp up the retail rollout of the Central Bank Digital Currency (CBDC). 

In its monetary policy statement, the central bank said that it will enable additional functionalities such as offline capability and programmability for CBDC retail payments.

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