Around 50 Lakh Users In The Country Are Using Central Bank Digital Currency, Says RBI

Reserve Bank of India has said that currently around 50 lakh users in the country are using Central Bank Digital Currency (CBDC). Out of which 46 lakh are retail customers while 4 lakh are Merchants. On Cumulative basis 2.2 crore transactions have been completed on CBDC. RBI’s Deputy Governor T. Rabi Shankar has said that testing of



offline uses of CBDC is going on. 

On a pilot basis, programmability of CBDC has begun yesterday. Under which a certain amount in the form of CBDC has been transferred to a farmer who can use it only for the purchasing of agriculture related products.