India Central Bank Begins CBDC Pilot for Call Money Market: A Game Changer?
India's central bank, the Reserve Bank of India (RBI), has initiated a pilot for a second use case of its wholesale central bank digital currency (CBDC), focusing on the call money market. This signifies a major step in modernizing India's financial infrastructure.
What is the Call Money Market and Why CBDC?
The call money market is a critical component of India's financial system. India’s central bank, the Reserve Bank of India (RBI), has begun testing its CBDC (Central Bank Digital Currency) in the call money market. The call money market is a... This pilot aims to explore how CBDC can improve efficiency, reduce transaction costs, and enhance transparency within this crucial market.
e-Rupee Circulation Surges: A Sign of Growing Acceptance
Hace 2 días The circulation of central bank digital currency (CBDC), or e-rupee, surged to Rs 1,016 crore by the end of March 2025, up from Rs 234 crore a year earlier, according to... This significant increase demonstrates growing acceptance and adoption of the e-rupee, paving the way for wider integration into the Indian economy.
RBI's Wholesale CBDC Pilot in the Call Money Market: What We Know
India’s central bank, the Reserve Bank of India (RBI), has begun testing its wholesale central bank digital currency (CBDC) in the call money market, Money Control reported Thursday. The RBI's initiative to pilot a wholesale CBDC in the call money market highlights its commitment to exploring the potential benefits of digital currencies for institutional use. This pilot will likely involve select banks and financial institutions, allowing the RBI to assess the technological feasibility and impact on market dynamics.
The Future of the Call Money Market and CBDC in India
The successful implementation of a CBDC in the call money market could revolutionize short-term lending and borrowing. It promises to streamline operations, enhance security, and contribute to a more robust and efficient financial ecosystem in India. Keep an eye on this developing story as the RBI continues to innovate and shape the future of digital finance in the country.