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Indian Payments Authority executive supports RBI’s efforts in CBDC development

Dilip Asbe, the managing director of the National Payments Corporation of India (NPCI), recently voiced his support for the Reserve Bank of India’s (RBI) innovative central bank digital currency (CBDC) initiatives. The RBI’s announcement on Feb. 8 marked a pivotal moment for digital currency in India, with plans to make the digital rupee programmable and capable of being exchanged in offline environments. The development is seen as a way to enhance the utility and accessibility of digital currency, especially in areas with limited internet connectivity. The RBI’s monetary policy statement for 2024 also mentioned the introduction of tokenization and delivery versus payment use cases.

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