India’s Central Bank Digital Currency (CBDC), the Digital Rupee (eā¹), is witnessing growing adoption across the country. As of April 2024, approximately 4.6 million customers and 400,000 businesses have registered to use the digital rupee. Major retailers like Reliance Retail have begun accepting eā¹, and payment platforms such as Google Pay and PhonePe are integrating it into their systems.
The digital rupee aims to enhance the efficiency of the payment system, reduce transaction costs, and promote financial inclusion. Its adoption signifies a step towards a more digitized economy, offering secure and convenient transaction options for consumers and businesses alike. As the ecosystem around eā¹ expands, it is poised to play a significant role in India’s financial landscape.
