India Digital Rupee Daily Transactions Cross One Million for Firs...

The Reserve Bank of India announced that daily transactions on the e-Rupee Central Bank Digital Currency platform crossed one million for the first time in a single day, marking a significant inflection point in the digital currency rollout that began in pilot form in December 2022. The CBDC is currently available through 13 banks via their mobile banking apps and supports both retail and wholesale transaction modes. The RBI attributed the surge to the integration of e-Rupee into the ONDC open commerce network, which allows digital rupee payments for online purchases across 50,000 merchants. Governor Sanjay Malhotra said the milestone validates India approach of a phased, interoperable CBDC rollout without disrupting the existing UPI ecosystem. International central banks from 14 countries have requested technical briefings from the RBI on the architecture.