RBI Eyes Global Partnerships for Digital Rupee

• RBI is piloting a CBDC and seeks collaboration with the US and EU.
• Partnership with UAE for cross-border CBDC pilot extended by 1-2 years.
• India's CBDC pilot has over 5 million users and involves 16 banks.
• Focus on reducing transaction costs and boosting the rupee's global status.
• Harmonization of standards and interoperability crucial for cross-border payments.

Source: Mint, Mint