- 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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