Don't want to miss the best from Business Standard?
Tuesday, December 02, 2025 | 01:16 PM ISTहिंदी में पढें
CBDC will transform cross-border payments, says Bank of Baroda MD & CEO
"BoB is currently anchoring CBDC initiatives in collaboration with the Reserve Bank of India," he said. RBI is currently conducting pilot projects on CBDC
 "rbi, reserve bank of india")
premium
As of March-end 2025, the pilot in the CBDC retail segment was expanded to 17 banks and 6 million users since its inception in December 2022. | Image: Bloomberg
The central bank digital currency (CBDC) could be the real game changer as it would simplify border settlements, reduce workforce needs, and increase efficiency, Debadatta Chand, MD and CEO of Bank of Baroda (BoB) said at Global Fintech Fest.
“BoB is currently anchoring CBDC initiatives in collaboration with the Reserve Bank of India,” he said. RBI is currently conducting pilot projects on CBDC.
As of March-end 2025, the pilot in the CBDC retail segment was expanded to 17 banks and 6 million users since its inception in December 2022.
BoB is driving financial inclusion at scale with over 45,000 business
