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The Digital Rupee (e₹) [6] or eINR or E-Rupee is a tokenised digital version of the Indian Rupee, issued by the Reserve Bank of India (RBI) as a central bank digital currency (CBDC). [7] The Digital Rupee was proposed in January 2017 and launched on 1 December 2022. [ 8 ]
The Reserve Bank of India started a pilot for the e-rupee, devised as a digital alternative to physical cash, in December 2022, and successfully reached a target of 1 million retail transactions ...
With UPI representing 62% of digital payment transactions in FY 2022–2023, it has been the primary driver of the overall development of digital payment transactions in India. [105] In January 2024, the value of UPI transactions reached ₹18.41 trillion, a slight increase of 1% from ₹18.23 trillion in December 2023. From 12.02 billion in ...
BHIM (Bharat Interface for Money) is an Indian state-owned mobile payment app developed by the National Payments Corporation of India (NPCI), based on the Unified Payments Interface (UPI). Launched on 30 December 2016, [1] it is intended to facilitate e-payments directly through banks and encourage cashless transactions.
The Reserve Bank of India (RBI) is working with lenders to introduce new features to popularise the central bank digital currency (CBDC), the so-called e-rupee, according to six people familiar ...
As of 2023, Namma Yatri has over 1.7 lakh drivers on board and 40 lakh riders who had reserved 20 million rides using the application. [156] On 18 December 2023, the Hyderabad Auto & Taxi Drivers Association announced the release of a new ride-hailing app supported by ONDC protocols.
On 20 December 2023, the Telecommunications bill, 2023 was passed by Lok Sabha. On 21 December 2023, the Telecommunications bill, 2023 was passed in Rajya Sabha. The Bill replaces the Indian Telegraph Act of 1885 with a comprehensive framework for the telecom sector. The Key Provisions of the Bill are: 1.
As of 2023 there are 907.4 million internet users in India (64% of the population), a 35% increase since 2018. [3] 63% payments still being made in cash. E-payments have been heavily promoted in India showing consumers the various ways they can make these payments Including ATMs, the Internet, mobile phones and drop boxes.