"India's e-rupee is no longer just a tech experiment; it has become an important part of the country's financial plans. With emerging proposals to take it beyond India's borders, the e-rupee is now positioned as a critical tool for streamlining international trade, remittances and tourism. It is also increasingly discussed in the context of India's geopolitical strategy. This article explores what the e-rupee is and how India plans to use it to address cross-border challenges."
"The e-rupee is India's central bank digital currency (CBDC), a digital form of the Indian rupee issued by the Reserve Bank of India (RBI) on par with physical cash. It functions like digital cash stored in a wallet, with the RBI acting as the guarantor of its value. The RBI is currently running pilot programs for both retail (public use) and wholesale (institutional use) versions to test the technology, distribution and practical applications."
The e-rupee is a central bank digital currency issued by the Reserve Bank of India that operates like digital cash in wallets and is backed one-for-one with physical rupees. The RBI is piloting retail and wholesale versions to test distribution, technology and use cases. Cross-border CBDC use is being positioned to reduce global payment frictions by enabling direct, final settlement without multiple intermediaries, lowering costs and speeding transfers. Proposals to link the e-rupee with other countries' CBDCs target simplified trade and tourism settlements and expanded remittance channels, with implications for India's economic and geopolitical objectives.
Read at Cointelegraph
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