RBI to explore commencing CBDC pilots on cross-border payments

The Reserve Bank of Indias annual report has note as part of its agenda for 2025-26 that it will explore commencing central bank digital currency (CBDC) pilots on cross-border payments both on bilateral and multilateral basis to overcome key challenges related to turnaround time (TAT), efficiency and transparency, considering India being the worlds largest recipient of remittances. The Reserve Bank would further expand the scope and coverage of ongoing pilots in e₹-Retail and e₹-Wholesale by introducing new use cases and features, besides bringing improvements to technological aspects of the account aggregator framework to enhance transparency, customer convenience and efficiency, the report noted in its prospects for year ahead. The value of central bank digital currency (CBDC) or e-rupee in circulation jumped to Rs 1,016 crore at the end of March 2025 from Rs 234 crore in the year-ago period, the Reserve Bank said on Thursday.

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