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IndusInd’s CBDC
April 29 , 2024
17 days
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- The IndusInd Bank successfully executed the RBI’s programmable Central Bank Digital Currency (CBDC) as pilot mode.
- This involved an alternate form of CBDC wherein the bank can program the end use of funds, specifically targeting farmers for carbon credit generation.
- The Bank had initiated the programmable CBDC disbursement to 50 farmers in Ratnagiri district of Maharashtra and will cover around 1,000 farmers going ahead.
- It is marking a milestone in the adoption of innovative financial solutions for the agriculture sector.
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