Digital Rupee
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Online Payment Frauds Jump Over 400 Percent in India, RBI Data Shows
- Saturday June 1, 2024
- Sidhartha Shukla, Bloomberg
Digital payment frauds in India saw a 400 percent jump in the year ended March 2024, according to the Reserve Bank of India's (RBI) annual report. Data from the central bank shows that the value of transactions on UPI jumped 137% in the past two years to 200 trillion rupees, while the rise in online transactions is also boosted by cheap access to t...
- www.gadgets360.com
-
RBI Governor Says Permanent Deletion of Transactions Would Make CBDCs Like Cash Notes
- Tuesday May 7, 2024
- Written by Radhika Parashar, Edited by Siddharth Suvarna
RBI governor Shaktikanta Das disclosed some more intricacies about the eRupee. Speaking at the BIS Innovation Summit 2024, in Basel, Switzerland, Das has said that India’s CBDC would offer the same privacy for transactions that cash notes offer.
- www.gadgets360.com
-
RBI Proposes Support for CBDC Distribution via Non-Bank Payment Operators
- Friday April 5, 2024
- Written by Radhika Parashar, Edited by David Delima
The RBI has decided to expand ways to distribute the CBDC within the retail ecosystem. Until now, India's CBDC distribution was being tested by banks that are part of its trials but soon third-party payment operators like Google Pay and PhonePe will also be able to distribute the CBDC.
- www.gadgets360.com
-
‘Cannot Be Currencies’: FM Nirmala Sitharaman Spells India’s Stance on Crypto
- Friday March 15, 2024
- Written by Radhika Parashar, Edited by Manas Mitul
Finance Minister Nirmala Sitharaman was asked Friday about India’s stance on cryptocurrencies. Sharing her response, the finance minister said that cryptocurrencies were not seen or perceived as ‘currency’ in India.
- www.gadgets360.com
-
E-Rupee CBDC Said to Hit RBI Target of 1 Million Daily Transactions by End of 2023
- Thursday January 4, 2024
- Reuters
Indian banks disbursed some employee benefits through the digital rupee in December, helping the Reserve Bank of India meet its target of one million daily transactions by end-2023, three sources directly familiar with the development said.
- www.gadgets360.com
-
India's Digital Currency Transactions Top 1 Million/Day In December: Report
- Thursday January 4, 2024
- India News | Reuters
Indian banks disbursed some employee benefits through digital rupee in December, helping the Reserve Bank of India meet its target of one million daily transactions by end-2023, three sources directly familiar with the development said.
- www.ndtv.com
-
SBI Introduces UPI Interoperability With eRupee CBDC for Seamless Transactions
- Monday September 4, 2023
- ANI
The State Bank of India (SBI) announced it has implemented Unified Payments Interface (UPI) interoperability in Digital Rupee, also called as Central Bank Digital Currency (CBDC).
- www.gadgets360.com
-
SBI's eRupee Can Now Be Accessed Via UPI
- Monday September 4, 2023
- Business | Press Trust of India
The State Bank of India (SBI) on Monday said it has implemented UPI interoperability in its digital rupee, called Central Bank Digital Currency (CBDC).
- www.ndtv.com/business
-
Canara Bank Rolls Out CBDC App Interoperable With UPI, Users Highlight Issues
- Tuesday August 22, 2023
- Written by Radhika Parashar, Edited by Manas Mitul
Canara Bank has launched an app to process eRupee payments between select customers and retailers. The launch of this app this week, makes Canara Bank the first mainstream Indian lender to have created a special platform to initiate CBDC payments as India marches forward with its eRupee trials.
- www.gadgets360.com
-
Reserve Bank of India Calls on More Lenders to Take Part in Pilot for Retail Digital Rupee: Report
- Wednesday July 12, 2023
- Reuters
The Reserve Bank of India (RBI) has called on a wider set of lenders to take part in pilot programmes using the central bank digital currency (CBDC) as it tries to increase transactions, three bankers told Reuters on Wednesday. Currently, large state-owned and private lenders, including State Bank of India, Bank of Baroda, ICICI Bank, HDFC Bank, Ko...
- www.gadgets360.com
-
RBI's CBDC Can Now Be Accepted at Reliance General Insurance Through Yes Bank
- Thursday April 27, 2023
- Press Trust of India
Reliance General Insurance on Wednesday said it has become a forerunner general insurance company in the country to accept the Reserve Bank of India’s (RBI) Central Bank Digital Currency e-Rupee for premium payments. The company has tied up with Yes Bank to facilitate the collection of premiums in the digital mode using the bank's e-Rupee platfor...
- www.gadgets360.com
-
E-Rupee Worth Over Rs. 130 Crore in Circulation, Says FM Nirmala Sitharaman
- Tuesday March 14, 2023
- Press Trust of India
Finance Minister Nirmala Sitharaman said on Monday that Digital or e-rupee worth over Rs 130 crore was in circulation on a pilot basis as of February 28. "As on February 28, 2023, the total digital rupee - Retail (e₹-R) and digital rupee - wholesale (e₹-W) in circulation is Rs 4.14 crore and Rs 126.27 crore, respectively," Sitharaman said in a ...
- www.gadgets360.com
-
India Has No Plans to Incentivise CBDC Users Despite Tedious Onboarding: Details
- Friday February 24, 2023
- Written by Radhika Parashar, Edited by Siddharth Suvarna
Speaking at the 17th India Digital Summit earlier this week, a panel of industry insiders said that the use of CBDC is not coming with incentives for Indians. They explained that as opposed to the existing UPI online payment method, the programmable CBDC will make online payments cheaper, faster, and protected with a layer of anonymity.
- www.gadgets360.com
-
CBDC Trials Expanding to 50,000 Users in India, RBI Backs Cautious Approach: Report
- Monday February 13, 2023
- Written by Radhika Parashar, Edited by David Delima
CBDC trials in India have been expanded to 50,000 testers, and the RBI has temporarily halted onboarding newer testers. The central bank of India aims to take a slow and steady approach around its digital rupee. In the last two months, over 770,000 transactions have been facilitated via the digital rupee so far in select cities.
- www.gadgets360.com
-
Digital Rupee Pilot: 50,000 Users Transacting Through Digital Currency, Says RBI
- Wednesday February 8, 2023
- Business | Press Trust of India
The pilot project started on December 1 has witnessed 7.70 lakh transactions, and is now being carried out in five cities, Deputy Governor T Rabi Sankar said.
- www.ndtv.com/business
-
Online Payment Frauds Jump Over 400 Percent in India, RBI Data Shows
- Saturday June 1, 2024
- Sidhartha Shukla, Bloomberg
Digital payment frauds in India saw a 400 percent jump in the year ended March 2024, according to the Reserve Bank of India's (RBI) annual report. Data from the central bank shows that the value of transactions on UPI jumped 137% in the past two years to 200 trillion rupees, while the rise in online transactions is also boosted by cheap access to t...
- www.gadgets360.com
-
RBI Governor Says Permanent Deletion of Transactions Would Make CBDCs Like Cash Notes
- Tuesday May 7, 2024
- Written by Radhika Parashar, Edited by Siddharth Suvarna
RBI governor Shaktikanta Das disclosed some more intricacies about the eRupee. Speaking at the BIS Innovation Summit 2024, in Basel, Switzerland, Das has said that India’s CBDC would offer the same privacy for transactions that cash notes offer.
- www.gadgets360.com
-
RBI Proposes Support for CBDC Distribution via Non-Bank Payment Operators
- Friday April 5, 2024
- Written by Radhika Parashar, Edited by David Delima
The RBI has decided to expand ways to distribute the CBDC within the retail ecosystem. Until now, India's CBDC distribution was being tested by banks that are part of its trials but soon third-party payment operators like Google Pay and PhonePe will also be able to distribute the CBDC.
- www.gadgets360.com
-
‘Cannot Be Currencies’: FM Nirmala Sitharaman Spells India’s Stance on Crypto
- Friday March 15, 2024
- Written by Radhika Parashar, Edited by Manas Mitul
Finance Minister Nirmala Sitharaman was asked Friday about India’s stance on cryptocurrencies. Sharing her response, the finance minister said that cryptocurrencies were not seen or perceived as ‘currency’ in India.
- www.gadgets360.com
-
E-Rupee CBDC Said to Hit RBI Target of 1 Million Daily Transactions by End of 2023
- Thursday January 4, 2024
- Reuters
Indian banks disbursed some employee benefits through the digital rupee in December, helping the Reserve Bank of India meet its target of one million daily transactions by end-2023, three sources directly familiar with the development said.
- www.gadgets360.com
-
India's Digital Currency Transactions Top 1 Million/Day In December: Report
- Thursday January 4, 2024
- India News | Reuters
Indian banks disbursed some employee benefits through digital rupee in December, helping the Reserve Bank of India meet its target of one million daily transactions by end-2023, three sources directly familiar with the development said.
- www.ndtv.com
-
SBI Introduces UPI Interoperability With eRupee CBDC for Seamless Transactions
- Monday September 4, 2023
- ANI
The State Bank of India (SBI) announced it has implemented Unified Payments Interface (UPI) interoperability in Digital Rupee, also called as Central Bank Digital Currency (CBDC).
- www.gadgets360.com
-
SBI's eRupee Can Now Be Accessed Via UPI
- Monday September 4, 2023
- Business | Press Trust of India
The State Bank of India (SBI) on Monday said it has implemented UPI interoperability in its digital rupee, called Central Bank Digital Currency (CBDC).
- www.ndtv.com/business
-
Canara Bank Rolls Out CBDC App Interoperable With UPI, Users Highlight Issues
- Tuesday August 22, 2023
- Written by Radhika Parashar, Edited by Manas Mitul
Canara Bank has launched an app to process eRupee payments between select customers and retailers. The launch of this app this week, makes Canara Bank the first mainstream Indian lender to have created a special platform to initiate CBDC payments as India marches forward with its eRupee trials.
- www.gadgets360.com
-
Reserve Bank of India Calls on More Lenders to Take Part in Pilot for Retail Digital Rupee: Report
- Wednesday July 12, 2023
- Reuters
The Reserve Bank of India (RBI) has called on a wider set of lenders to take part in pilot programmes using the central bank digital currency (CBDC) as it tries to increase transactions, three bankers told Reuters on Wednesday. Currently, large state-owned and private lenders, including State Bank of India, Bank of Baroda, ICICI Bank, HDFC Bank, Ko...
- www.gadgets360.com
-
RBI's CBDC Can Now Be Accepted at Reliance General Insurance Through Yes Bank
- Thursday April 27, 2023
- Press Trust of India
Reliance General Insurance on Wednesday said it has become a forerunner general insurance company in the country to accept the Reserve Bank of India’s (RBI) Central Bank Digital Currency e-Rupee for premium payments. The company has tied up with Yes Bank to facilitate the collection of premiums in the digital mode using the bank's e-Rupee platfor...
- www.gadgets360.com
-
E-Rupee Worth Over Rs. 130 Crore in Circulation, Says FM Nirmala Sitharaman
- Tuesday March 14, 2023
- Press Trust of India
Finance Minister Nirmala Sitharaman said on Monday that Digital or e-rupee worth over Rs 130 crore was in circulation on a pilot basis as of February 28. "As on February 28, 2023, the total digital rupee - Retail (e₹-R) and digital rupee - wholesale (e₹-W) in circulation is Rs 4.14 crore and Rs 126.27 crore, respectively," Sitharaman said in a ...
- www.gadgets360.com
-
India Has No Plans to Incentivise CBDC Users Despite Tedious Onboarding: Details
- Friday February 24, 2023
- Written by Radhika Parashar, Edited by Siddharth Suvarna
Speaking at the 17th India Digital Summit earlier this week, a panel of industry insiders said that the use of CBDC is not coming with incentives for Indians. They explained that as opposed to the existing UPI online payment method, the programmable CBDC will make online payments cheaper, faster, and protected with a layer of anonymity.
- www.gadgets360.com
-
CBDC Trials Expanding to 50,000 Users in India, RBI Backs Cautious Approach: Report
- Monday February 13, 2023
- Written by Radhika Parashar, Edited by David Delima
CBDC trials in India have been expanded to 50,000 testers, and the RBI has temporarily halted onboarding newer testers. The central bank of India aims to take a slow and steady approach around its digital rupee. In the last two months, over 770,000 transactions have been facilitated via the digital rupee so far in select cities.
- www.gadgets360.com
-
Digital Rupee Pilot: 50,000 Users Transacting Through Digital Currency, Says RBI
- Wednesday February 8, 2023
- Business | Press Trust of India
The pilot project started on December 1 has witnessed 7.70 lakh transactions, and is now being carried out in five cities, Deputy Governor T Rabi Sankar said.
- www.ndtv.com/business