The Reserve Bank of India (RBI) predicts that its e-rupee Central Bank Digital Currency (CBDC) pilot program will reach a significant milestone of 1 million retail users by the end of June, as per statements made by RBI Governor Shaktikanta Das.
The e-rupee pilot program consists of two parts: a wholesale or interbank segment, which began on November 1, 2022, and a retail segment that was launched on December 1, 2022.
Pankaj Chaudhary, the Union Minister of State for Finance, also acknowledged the success of the initiative and the growing popularity and user base.
These ambitious goals highlight the RBI’s dedication to promoting the adoption of digital currency in India, aligning with the global trend of digitizing traditional fiat currency.
Therefore, reaching 1 million users by the end of June is an important milestone for India’s CBDC endeavor and signifies significant growth and public acceptance in a relatively short period.
If achieved, this goal will undoubtedly enhance confidence and optimism for future developments of the program and the wider acceptance of digital currencies in India.
Compiled by Coinbold
