India’s E-Rupee hits 1 Mn daily transactions in December: Report
Image Credit: NDTV
The RBI has met its target of 1 Mn daily transactions by the end of 2023, propelled by disbursal of some employee benefits by lenders via digital rupee in December, Reuters reported, citing sources close to the matter. The RBI started its e-rupee pilot in December 2022 but transactions averaged only 25,000 a day by the end of October, even though its use case was significantly broadened by linking it to the popular UPI, a framework that facilitates peer-to-peer money transfer via mobile apps.