Source: Mint
Context:
At the Global Fintech Fest 2025, Reserve Bank of India (RBI) Deputy Governor T. Rabi Sankar said that the central bank is prioritising the development of new use cases for the Central Bank Digital Currency (CBDC), or e-rupee, rather than expanding its user base immediately.
Key Highlights:
- Focus on Programmable Use Cases:
RBI aims to make the e-rupee programmable for specific uses — such as merchant category, geography, or time period.
The goal is to ensure ease of use even for individuals unfamiliar with technology. - Government Scheme Integration:
Programmable CBDC features are being designed to enable direct digital payouts for government schemes and subsidies. - No Mass Rollout Yet:
The e-rupee currently has around 7 million users.
The RBI will wait for other countries to advance their own CBDC systems to ensure cross-border interoperability before scaling up. - Cross-Border Focus:
RBI emphasised that the “basic use case” for CBDC will be in cross-border payments, enhancing global settlement efficiency.
New Functionalities Announced
- Mobile-Linked Wallet Payments:
CBDC wallets can now be linked to mobile numbers, allowing users to make peer-to-peer payments without a bank account. - Integrated CBDC Access Platform:
A unified platform under NPCI allows users to access CBDC wallets across multiple banks in one place. - Solar Credit Trading via e-Rupee:
Retail users of solar rooftops can now trade energy credits directly through the e-rupee ecosystem. - Multi-Signatory Accounts on UPI:
RBI launched a multi-signatory/joint account feature for the Unified Payments Interface (UPI), improving flexibility for households and small businesses.
