SBI integrates UPI interoperability in eRupee CBDC app
Shortpedia
Content Team
Image Credit: NewsBytes
The State Bank of India (SBI) has implemented unified payments interface (UPI) interoperability in its central bank digital currency (CBDC) mobile application called "eRupee by SBI." This move aims to provide convenience and accessibility to SBI's CBDC users, allowing them to scan the merchant UPI QR codes for transactions. To note, SBI was among the first banks to take part in the Reserve Bank of India's (RBI) retail digital e-rupee project.
