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Online Payment Frauds Jump Over 400 Percent in India, RBI Data Shows
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...
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RBI Governor Says Permanent Deletion of Transactions Would Make CBDCs Like Cash Notes
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.
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RBI Proposes Support for CBDC Distribution via Non-Bank Payment Operators
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.
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‘Cannot Be Currencies’: FM Nirmala Sitharaman Spells India’s Stance on Crypto
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.
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E-Rupee CBDC Said to Hit RBI Target of 1 Million Daily Transactions by End of 2023
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.
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India's Digital Currency Transactions Top 1 Million/Day In December: Report
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.
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SBI Introduces UPI Interoperability With eRupee CBDC for Seamless Transactions
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).
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Canara Bank Rolls Out CBDC App Interoperable With UPI, Users Highlight Issues
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.
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Reserve Bank of India Calls on More Lenders to Take Part in Pilot for Retail Digital Rupee: Report
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...
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RBI's CBDC Can Now Be Accepted at Reliance General Insurance Through Yes Bank
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...
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CBDC Trials Expanding to 50,000 Users in India, RBI Backs Cautious Approach: Report
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.
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Digital Rupee Pilot: 50,000 Users Transacting Through Digital Currency, Says RBI
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.
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Digital Rupee Pilot Has Blockchain Components, Features Of Physical Cash: Government
Central Bank Digital Currency pilot in the retail segment has components backed by blockchain technology and has several common features with physical cash, Minister of State for Finance Pankaj Chaudhary told the Lok Sabha on Monday.
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Central Bank Digital Currency Transactions to Remain Anonymous 'To a Certain Degree': RBI
Central bank digital currencies (CBDC) transactions would remain anonymous to a certain degree, Reserve Bank of India Deputy Governor T Rabi Sankar said on Wednesday. The IT department allows cash transactions up to a certain limit to be carried out without government ID proof, but the RBI is yet to clarified the degree to which CBDC transactions w...
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Digital Rupee: No Need To Create "Fear Psychosis" Over Privacy Concerns, Says RBI Governor
"It (CBDC) goes from my mobile to somebody else's mobile. So why should we create this fear psychosis?," Shaktikanta Das asked.
-
Online Payment Frauds Jump Over 400 Percent in India, RBI Data Shows
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...
-
RBI Governor Says Permanent Deletion of Transactions Would Make CBDCs Like Cash Notes
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.
-
RBI Proposes Support for CBDC Distribution via Non-Bank Payment Operators
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.
-
‘Cannot Be Currencies’: FM Nirmala Sitharaman Spells India’s Stance on Crypto
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.
-
E-Rupee CBDC Said to Hit RBI Target of 1 Million Daily Transactions by End of 2023
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.
-
India's Digital Currency Transactions Top 1 Million/Day In December: Report
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.
-
SBI Introduces UPI Interoperability With eRupee CBDC for Seamless Transactions
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).
-
Canara Bank Rolls Out CBDC App Interoperable With UPI, Users Highlight Issues
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.
-
Reserve Bank of India Calls on More Lenders to Take Part in Pilot for Retail Digital Rupee: Report
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...
-
RBI's CBDC Can Now Be Accepted at Reliance General Insurance Through Yes Bank
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...
-
CBDC Trials Expanding to 50,000 Users in India, RBI Backs Cautious Approach: Report
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.
-
Digital Rupee Pilot: 50,000 Users Transacting Through Digital Currency, Says RBI
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.
-
Digital Rupee Pilot Has Blockchain Components, Features Of Physical Cash: Government
Central Bank Digital Currency pilot in the retail segment has components backed by blockchain technology and has several common features with physical cash, Minister of State for Finance Pankaj Chaudhary told the Lok Sabha on Monday.
-
Central Bank Digital Currency Transactions to Remain Anonymous 'To a Certain Degree': RBI
Central bank digital currencies (CBDC) transactions would remain anonymous to a certain degree, Reserve Bank of India Deputy Governor T Rabi Sankar said on Wednesday. The IT department allows cash transactions up to a certain limit to be carried out without government ID proof, but the RBI is yet to clarified the degree to which CBDC transactions w...
-
Digital Rupee: No Need To Create "Fear Psychosis" Over Privacy Concerns, Says RBI Governor
"It (CBDC) goes from my mobile to somebody else's mobile. So why should we create this fear psychosis?," Shaktikanta Das asked.
