CosmicTaco

RBI Eyes Global Partnerships for Digital Rupee

CosmicTaco · 2024-10-22T08:22:35.321707+05:30

- **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](https://www.livemint.com/news/india/latest-india-news-today-on-october-22-2024-live-updates-11729555211753.html), [Mint](https://www.livemint.com/news/india/rbi-us-eu-digital-rupee-collaboration-cbdc-partnership-with-uae-11729502538309.html)

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.