US Edition
India's Digital Currency Push Targets Its Leaky Welfare System
About 10 pilot programs are routing welfare payments through the e-rupee as India seeks to cut leakage and expand adoption, Reuters reported.
9 Articles
9 Articles
India is picking up pace in the development of the E-Rupie. Now the CBDC is to be used in the welfare state. But not all are convinced. Source: BTC-ECHO BTC-ECHO
India Expands e-Rupee Use in Welfare as BRICS Talks Intensify
India pilots e-rupee in welfare, but usage still trails UPI transaction scale. Programmable e-rupee limits subsidy misuse while expanding welfare access to 7.5M households. RBI explores BRICS CBDC link to reduce dollar reliance amid rising geopolitical pressure. India is expanding the use of its central bank digital currency, the e-rupee, by channeling portions of its welfare system through targeted pilot programs, as policymakers also examine a…
India Turns to Welfare Payments to Accelerate e‑Rupee Adoption Ahead of BRICS Summit
TL;DR: India channels part of its $80 billion social welfare system through the e-rupee across roughly 10 pilot programs. Accumulated e-rupee transactions total just $3.6 billion since its December 2022 launch, compared to UPI’s $300 billion per month. The Reserve Bank of India is working on a proposal to link BRICS countries’ CBDCs ahead of the 2026 summit. India has spent nearly four years trying to get its state digital currency (CBDC) off t…
Coverage Details
Bias Distribution
- 67% of the sources are Center
Factuality
To view factuality data please Upgrade to Premium
