What is e-Rupee and the Role of CBDC in India’s Digital Economy fsstech.com

2023 was a significant year for India’s digital rupee called e-Rupee (e₹). Pilot tests of the e-Rupee began in December 2022, and by the end of March 2023, RBI records showed that ₹1616.39 crore worth of the digital rupee was already in use. RBI’s first goal was for one million e-Rupee transactions to be processed every day by the end of 2023, a goal which was achieved as planned.