{"id":549344,"date":"2023-02-08T17:02:14","date_gmt":"2023-02-08T14:02:14","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/india-in-no-hurry-for-cbdc-as-digital-rupee-pilot-onboards-50k-users\/"},"modified":"2023-02-08T17:02:14","modified_gmt":"2023-02-08T14:02:14","slug":"india-in-no-hurry-for-cbdc-as-digital-rupee-pilot-onboards-50k-users","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/india-in-no-hurry-for-cbdc-as-digital-rupee-pilot-onboards-50k-users\/","title":{"rendered":"# India in \u2018no hurry\u2019 for CBDC as digital rupee pilot onboards 50k users"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_89 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6af6b2edec9e3\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6af6b2edec9e3\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/india-in-no-hurry-for-cbdc-as-digital-rupee-pilot-onboards-50k-users\/#%E2%80%9D_India_in_%E2%80%98no_hurry_for_CBDC_as_digital_rupee_pilot_onboards_50k_users_%E2%80%9C\" >&#8221; India in \u2018no hurry\u2019 for CBDC as digital rupee pilot onboards 50k users &#8220;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_India_in_%E2%80%98no_hurry_for_CBDC_as_digital_rupee_pilot_onboards_50k_users_%E2%80%9C\"><\/span>&#8221; India in \u2018no hurry\u2019 for CBDC as digital rupee pilot onboards 50k users &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<div class=\"post-content\" data-v-4bbf85c5>The Indian government doesn\u2019t want to rush its central bank digital currency (CBDC) pilot despite joining the CBDC race just a few months ago.<\/p>\n<p>India\u2019s recently launched CBDC pilot has amassed 50,000 users, and 5,000 merchants since the Reserve Bank of India (RBI) launched the digital rupee pilot last year, local <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">news<\/a> agency The Economic Times <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/economictimes.indiatimes.com\/news\/economy\/finance\/digital-currency-has-50000-users-5000-merchants-rbi\/articleshow\/97732477.cms\">reported<\/a> on Feb. 8.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2023-02\/3956c037-186f-45d9-b8b6-3293c136d981.png\"><figcaption style=\"text-align: center;\"><em>India&#8217;s e-RUPI <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a> stopped registering new users. Source: Cointelegraph<\/em><\/figcaption><\/figure>\n<p>Announcing the first public milestones of India\u2019s digital currency at a policy press conference, RBI deputy governor Rabi Sankar stressed that the government plans to proceed with CBDC testing in the smoothest way possible.<\/p>\n<p>\u201cWe have our targets in terms of users, in terms of merchants. We will go slowly,\u201d Sankar stated, noting that the RBI doesn\u2019t want to push CBDC developments without having full awareness about its potential impact. He stated:<\/p>\n<blockquote><p>&#8220;We want the process to happen, but we want the process to happen gradually and slowly. We are in no hurry to make something happen so quickly.\u201d<\/p><\/blockquote>\n<p>Sankar noted that the digital rupee pilot project has recorded 770,000 transactions across eight banks since the trial was launched on Dec. 1, 2022. The project is currently being carried out in five cities, with nine more cities potentially gradually joining the pilot soon. The official also said that five more banks are set to join the project in the near future.<\/p>\n<p><strong><em>Related: <\/em><\/strong><strong><em>Russia\u2019s Gazprombank recommends slow CBDC rollout fearing loss of income<\/em><\/strong><\/p>\n<p>As previously reported, RBI officially debuted a wholesale CBDC in November 2022, launching a retail CBDC a month later. The Indian government initially announced CBDC plans in early 2022, declaring that a digital rupee would be a \u201cbig boost\u201d for India\u2019s economy. The RBI then proposed a three-step graded approach for its rollout, aiming for little or no disruption to the traditional financial system.<\/p>\n<p>India\u2019s CBDC developments came years after countries like China started aggressive digital currency rollout in April 2020. Despite massive efforts to promote the use of CBDC, some former central bank officials claimed that the digital yuan\u2019s usage has been low.<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more News articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/india-in-no-hurry-for-cbdc-as-digital-rupee-pilot-onboards-50k-users\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; India in \u2018no hurry\u2019 for CBDC as digital rupee pilot onboards 50k users &#8220; The Indian government doesn\u2019t want to rush its central bank digital currency (CBDC) pilot despite joining the CBDC race just a few months ago. India\u2019s recently launched CBDC pilot has amassed 50,000 users, and 5,000 merchants since the Reserve Bank&#8230;<\/p>\n","protected":false},"author":1,"featured_media":549345,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/s3.cointelegraph.com\/uploads\/2023-02\/07699b0a-2b5b-461f-b3d8-a03cf2567927.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[75046,75159,78031,74355,17318,70934],"class_list":["post-549344","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-cbdc","tag-digital-currency","tag-reserve-bank-of-india","tag-adoption","tag-india","tag-regulation"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/549344","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=549344"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/549344\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/549345"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=549344"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=549344"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=549344"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}