RBI's e₹ pilot records ₹34,000 cr in transactions so far
The Reserve Bank of India (RBI) digital rupee (e₹) pilot.
Think of it as cash, but fully digital, stored in special wallets from banks, not linked to your bank account like UPI.
It's part of India's push to modernize payments, and so far, transactions have crossed ₹34,000 crore.
e₹ could enable programmable payments
The e₹ promises quicker payments and more transparency.
Experts like Akshat Garg say features like programmable payments and offline use could make it popular across India.
Akshat Garg points out that it might reduce dependence on the US dollar for global transfers.
Cybersecurity, privacy and UPI barriers
There are some hurdles: cybersecurity risks, privacy concerns, and people sticking with UPI for now.
Gaurav Maheshwari notes that for e₹ to really take off, it needs clear advantages over what we already use.
Still, its evolving features could change how government schemes and international payments work in India.