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HDFC Bank Onboards Over 1 Lakh Customers, 1.7 Lakh Merchants On Digital Currency Pilot

The largest private sector lender HDFC Bank on Thursday claimed that it has on-boarded over 1 lakh customers and more than 1.7 lakh merchants on the CBDC pilot programme and activated an interoperable UPI QR code with the e-rupee platform. The RBI last November launched the Central Bank Digital Currency (CBDC) pilot programme, a tokenized digital version of the rupee for wholesale and retail early December. RBI Deputy Governor T Rabi Sankar said the monetary authority is planning to increase the digital rupee transactions to 10 lakh/day by the end of the year from 5,000-10,000 per day now. The number of banks in the pilot has gone up to 13 from eight banks initially.

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