RBI Report
Aim to expand scope, coverage of e-rupee in FY26
This story was originally published at 14:31 IST on 29 May 2025
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--RBI: To expand scope, coverage of CBDC in FY26
--RBI: Exploring CBDC pilots for cross-border payments to improve efficiency
MUMBAI – The Reserve Bank of India's FinTech department will look to offer new cases and features for the Central Bank Digital Currency in 2025-26 (Apr-Mar), the central bank said in its Annual Report for FY25. The department will also aim to broaden the scope and coverage of the Central Bank Digital Currency this financial year.
In FY25, the FinTech department included standalone primary dealers to the e-rupee wholesale ecosystem and upgraded the technological architecture. At the Central Bank Digital Currency-retail front, the department tested use cases of distribution of wallets by some non-banks and also tested use cases of programmability and offline functions by the select entities.
The Central Bank Digital Currency-retail pilot, launched by the RBI in 2022, commenced usage of person-to-person and person-to-merchant transactions in FY25, as part of the FinTech department's goal to expand the coverage of the digital currency. As of Mar. 31, the Central Bank Digital Currency-retail pilot included 17 banks and six million users.
The central bank is also exploring bilateral cross-border e-rupee pilots with certain select countries to improve efficiency in cross-border transactions, the RBI report said. "...progress has been made in finalisation of roadmap, technical aspects and use cases," RBI report said in relation to the cross-border Central Bank Digital Currency pilots. "The Reserve Bank's participation in multilateral CBDC initiatives, particularly under the Bank for International Settlements (BIS) Innovation Hub, are also being considered." End
Reported by Vidhushi RajPurohit
Edited by Akul Nishant Akhoury
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