RBI launches 3 CBDC features, CCIL's FX Retail platform on BharatConnect
This story was originally published at 19:00 IST on 7 October 2025
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--RBI Sankar launches "Wallet on the Go" feature for e-rupee
--RBI Sankar launches CCIL's FX Retail svcs on BharatConnect
--CCIL: To launch frictionless forex via BharatConnect through FX Retail
--RBI Sankar launches use-case of e-rupee for person-to-person solar trading
--RBI: BHIM will aggregate e-rupee wallets across various banks
--RBI Sankar launches digital e-rupee wallet on BHIM UPI app
--RBI: To allow e-rupee payments to phone numbers without CBDC, UPI ID
MUMBAI – Reserve Bank of India Deputy Governor T. Rabi Sankar on Tuesday launched an on-the-go wallet feature for the central bank digital currency. Through the wallet, users can make payments using CBDC to a mobile number-linked bank account even if the said account is not linked to Unified Payments Interface or CBDC.
The digital e-rupee wallet can be accessed through the BHIM UPI application. BHIM UPI will aggregate CBDC wallets across various banks to enable the feature, the RBI said. In addition to the e-rupee applications, the deputy governor also launched two functionalities for the UPI platform at the Global Fintech Fest Tuesday.
Sankar also launched the use-case of CBDC for peer-to-peer solar energy trading offered by the Karnataka Electricity Regulatory Commission. Peer-to-peer solar energy trading is a system where electricity generated by prosumers from solar panels is directly sold to other consumers within a local network or community, bypassing traditional utility intermediation. The model utilises digital platforms, sometimes powered by blockchain technology, to match supply and demand, creating a decentralised and democratised energy market that benefits both buyers and sellers by providing more options, new revenue streams, and saving costs.
Sankar also launched the FX Retail platform of Clearing Corp. of India Ltd. on the Bharat Bill Payment System or BharatConnect. The feature will enable individual customers to maintain bank accounts with participating banks to register and transact on the FX Retail platform via enabled digital channels of participating banks and through third-party applications. For existing customers of FX Retail, the linkage will provide another option to access the platform. The pilot is currently available to customers of Axis Bank Ltd., Federal Bank Ltd., ICICI Bank Ltd., State Bank of India, and YES Bank Ltd. End
Reported by Krity Ambey and Aaryan Khanna
Edited by Tanima Banerjee
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