EddieJayonCrypto

 25 Dec 24

tl;dr

In 2024, India's central bank, the Reserve Bank of India (RBI), made significant progress with its central bank digital currency (CBDC) - the digital rupee. The pilot phase involved wholesale and retail segments, with trials expanding to cover various use cases, including agricultural and government...

India has made significant strides with its central bank digital currency (CBDC) in 2024, as the Reserve Bank of India (RBI) achieved notable advancements in various use cases, including agricultural and government initiatives. The pilot phase involved wholesale and retail segments, with trials expanding to cover more areas, and the e-rupee pilot involved over 1.5 million users and 300,000 merchants by the end of the year.

ESMA has published final guidelines as MiCA looms, with the final policy documents released just two weeks before MiCA takes full effect.

India's Unified Payments Interface (UPI) experienced phenomenal growth in 2024, propelling the country's digital payments ecosystem. The UPI facilitated inter-bank transactions through mobile phones, signaling a surge in its daily usage.

These developments mark significant progress in India's financial landscape, shaping the trajectory of digital currencies and digital payments.

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 25 Dec 24
 25 Dec 24
 25 Dec 24