The State Bank of India has announced the implementation of UPI interoperability in its Digital Rupee (eRupee) also called Central Bank Digital Currency (CBDC).
Banking & Finance
State Bank of India (SBI) has introduced UPI interoperability in its Digital Rupee (e rupee), also known as the Central Bank Digital Currency (CBDC). This feature is accessible through the ‘e rupee by SBI’ application and allows SBI CBDC users to scan merchant UPI QR codes for transactions. SBI’s participation in the RBI’s retail digital e-rupee project in December 2022 paved the way for this integration, to promote the use of digital currencies in everyday transactions.
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