India explores offline efficiency of CBDCs — RBI executive director

India explores offline functionality of CBDCs — RBI government director

India’s currently launched in-dwelling central financial institution digital foreign money (CBDC)the digital rupee — is now being tested for offline functionality, published Ajay Kumar Choudhary, government director of the Reserve Monetary institution of India (RBI).

The RBI — India’s central financial institution and regulatory body — launched the wholesale section pilot for the digital rupee on Nov. 1, 2022, onboarding 50,000 customers and 5,000 retailers for valid-world making an are attempting out. As of Feb. 25, around $134 million and 800,000 transactions were carried out by potential of wholesale CBDCs.

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