India is moving cautiously on a central bank digital currency, aiming not just for payments tech but to reduce leakages in welfare delivery. Though its early rollout looks small next to China’s massive e-yuan adoption, officials believe a successful system could scale quickly—potentially making India one of the world’s biggest CBDC issuers.
Paytm founder Vijay Shekhar Sharma is calling for regulatory and technology reforms to streamline India’s IPO process. His push centers on using CBDC, the central bank backed digital rupee, for IPO settlements—potentially shortening transaction timelines and enabling real-time fund transfers instead of relying on slower settlement cycles.
Your news, in seconds
Get the Beige app — every story in 60 words, updated hourly. Free on iOS & Android.
Finance Minister Nirmala Sitharaman pitched the Digital Rupee as a major economic boost under India’s CBDC push. But fintech community members argue the “digital budget” remains opaque, with crucial implementation details missing. The criticism centers on what’s actually planned—how the system will work, rollout timelines, and safeguards—raising questions about transparency and confidence.
RBI’s retail CBDC, the e rupee, began as a pilot in 2022 and signaled a major shift in India’s digital payments journey. The trial is aimed at shaping how a government backed digital currency could work for everyday transactions, from payment convenience to settlement and usability, before any wider rollout decisions are made.
Swipe through stories, personalise your feed, and save articles for later — all on the app.
