IndusInd Bank has become the first bank to successfully execute RBI’s programmable CBDC pilot in an exchange filing.

Banking & Finance

IndusInd Bank has become the first bank to successfully execute RBI’s programmable CBDC pilot in an exchange filing. The pilot project is being carried out in partnership with Circularity Innovation Hub India Private Limited (CIH) as a substitute for CBDC, allowing the Bank to plan how money would be used in the end and provide it to farmers instead of producing carbon credits. IndusInd Bank launched the programmable CBDC payout to 50 farmers in the Ratnagiri area of Maharashtra as part of this trial, and it will eventually cover about 1000 farmers. This is a major step forward in the adoption of creative financial solutions for the agriculture industry. As part of this project, IndusInd Bank is creating digital wallets and overseeing CBDC transfers.


     

     

     

 

     


IndusInd Bank

Founded- April 1994
MD&CEO- Sumant Kathpalia
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