In a significant move, the Reserve Bank of India (RBI) is advancing with its plans to introduce a central bank digital currency (CBDC).

The RBI has set an ambitious goal of achieving one million CBDC transactions per day by the close of 2023.

Modernizing India’s Financial Landscape with CBDC Implementation

As the pilot phase progresses, more insights will emerge regarding the practicality and acceptance of CBDCs in real-world financial scenarios.

The RBI’s careful and strategic approach to CBDC adoption aligns with global trends in central banks exploring digital currencies.