Indian Banks Introduce UPI Interoperability to Digital Rupee App

  • Several key Indian banks, including State Bank of India, have added a Unified Payments Interface (UPI) interoperability feature to the Central Bank Digital Currency (CBDC) pilot project’s Digital Rupee app.
  • This development allows Digital Rupee users to make payments by scanning any QR code, expected to boost RBI’s CBDC adoption.
  • Merchants will not need to replace their current QR codes as they will now also accept CBDC payments.
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