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RBI To Pilot Offline & Programmable Retail CBDCs

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RBI Boosts UPI Transaction Cap to ₹5L for Education and Healthcare
  1. The Reserve Bank of India (RBI) announced plans to ramp up the retail rollout of the Central Bank Digital Currency (CBDC).
  2. In its monetary policy statement, the central bank mentioned enabling additional functionalities such as offline capability and programmability for CBDC retail payments.
  3. RBI also plans to pilot proximity and non-proximity-based offline solutions in hilly and rural areas to expand the offline functionality of retail CBDCs.
  4. The central bank had first begun piloting retail CBDC in December 2022 and achieved the target of 10 lakh transactions a day, a year later.
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