The Reserve Bank of India (RBI) is expected to expand the scope of its digital rupee pilots by introducing new uses and functionalities for its digital and wholesale and wholesale bank (CBDC) currencies (CBDC), according to the central bank annual report for 2024-25.
The central bank has said that it aims to explore programmability and offline capacities for digital roupe, features that can increase its applicability in the fields with limited internet access and tailor payments for specific use cases such as government subsidies or corporate expenditure controls.
Currently, the two versions of the CBDC are undergoing pilot tests. The CBDC retail pilot is made with certain customers and traders through participating banks, while the large driver targets use on the interbank market.
According to the report, the retail pilot reached 600,000 users in 17 banks. For more adoption on a scale, the RBI authorized “certain non-banks […] To offer CBDC portfolios. »»
The large pilot also experienced an increase in institutional interests. The scope of wholesale has been extended and diversified with the addition of four autonomous primary dealers (SPD), confirmed the report.
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India dominates payments in real time
During the year 2024-2025, digital payments in India experienced significant growth, both in terms of volume and value. According to the report, total digital payments recorded growth of 34.8% in volume and 17.9% in value.
In addition, India has dominated global payments in real time during the year. The RBI noted that the Unified Payment Interface (UPI) “placed India in the steering position with a share of 48.5% in global payments in real time in volume”.
The central bank said that several innovative characteristics have been introduced to extend the advantages of digital payments to wider segments of the company.
For example, the report mentions that the functionality of “delegated payments” has been deployed, allowing “individuals (main user) to allow another individual (secondary user) to make UPI transactions at the limit of the main user’s bank account”.
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The Supreme Court of India calls for cryptographic regulations
On May 20, the Supreme Court of India raised concerns concerning the inaction of the government in the regulation of cryptocurrencies such as Bitcoin, although it has already imposed a 30%tax.
Judge Surya Kant criticized the existence of a “parallel economy” through digital assets, calling it a potential threat to the country’s financial system.
In India, users pay a 30% tax on the profits of Crypto Trading, which has been in force since April 2022.
Although cryptographic companies operating in the country undergo increasing regulatory monitoring, India has more than 100 million digital asset holders on its 1.4 billion people.
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