SCOOP: India is planning to scale up CBDC users to a million and is prioritizing finding a solution to the challenge of an offline version of the digital rupee to foster financial inclusion. By amitoj.
Explore the policy fallout from the 2022 market crash, the advance of CBDCs and more.India's retail central bank digital currency architects are aiming to scale the user base of the digital rupee to one million users, and have prioritized solving the challenge of creating an offline version, two people familiar with the matter told CoinDesk., they are privately looking to hit double that amount.
India's digital rupee was the subject of great interest at a recent meeting of the Group of 20 hosted by India in Bengaluru, said RBI Governor Shaktikanta Das in a media conference on Thursday."In fact, an eminent person from the international financial sector went to the extent of complementing the design of our CBDC, adding that the only thing he missed in the CBDC was the smell of new currency.
A digital currency system that can facilitate offline transactions is seen as a way to improve financial inclusion in emerging economies such as India.
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