CBDC can complement UPI well bl-premium-article-image

Central Bank Digital Currency (CBDC) is a major revolution in the world of fintech and e-Rupee is rapidly expanding its footprint. Acknowledging the meteoric rise of UPI usage, the RBI Governor stated at Bank of International Settlement’s “Innovation Summit 2024” that there exists considerable scope for further digitalisation of payments in India, and e-Rupee provides an added avenue by mimicking features of cash in the virtual world, — anonymity, ease of usage and finality of settlement.