India pushes digital rupee through welfare pilots as BRICS CBDC plan takes shape
CoinDesk
India is utilizing welfare programs to boost e-rupee adoption while exploring a BRICS cross-border digital currency network to reduce dollar reliance.Summary
The Reserve Bank of India is integrating its central bank digital currency (e-rupee) into approximately 10 welfare pilot programs, such as agricultural subsidies and food benefits, to curb corruption and increase usage. While adoption is growing, e-rupee transaction volumes remain modest compared to the country’s Unified Payments Interface. Concurrently, India is proposing a BRICS-wide CBDC linkage to facilitate cross-border trade and decrease dependence on the U.S. dollar, a strategy that poses potential geopolitical risks including U.S. tariff threats.
(Source：CoinDesk)