The managing director of the National Payments Corporation of India (NPCI), Dilip Asbe, expressed his optimism for a digital rupee and also stated that the Reserve Bank of India’s (RBI) new CBDC could push the upcoming fintech wave during a Mumbai Tech Week panel on Sunday.
The RBI announced on February 8 that they would make its digital rupee programmable so that it can be exchanged while citizens are offline.
According to an ET report, Dilip Asbe stated, “In the recent monetary policy meeting, the RBI governor announced the programmable money, offline functionality, and some of the new initiatives on CBDC.”
RBI governor Shaktikanta Das, during the monetary policy meeting on February 8, presented further use cases to include programmability and offline capability in CBDC retail payments.
Asbe stated that the implementation of tokenization and use cases of delivery versus payment could lead to CBDC acquisition in India.
He added that the NPCI is vigorously exploring the utility of the Unified Payments Interface (UPI) for secondary market investments, and it could support the market’s speed.
Also Read: RBI Tests Asset Tokenization in Wholesale CBDC Pilot
