India's central bank, the Reserve Bank of India (RBI), is exploring ways to make its digital currency, the digital rupee, more accessible by adding offline functionalities.
Currently, the digital rupee can be used for person-to-person (P2P) and person-to-merchant (P2M) transactions through digital wallets offered by participating pilot banks. This pilot program aims to assess the potential of the digital rupee to improve financial monitoring and reduce reliance on cash.
The RBI Governor, Shaktikanta Das, announced the exploration of offline functionalities without specifying details or confirming their implementation. This move suggests the RBI is considering expanding the reach of the digital rupee beyond internet-connected areas.
It's important to note that the digital rupee is still in its pilot phase, and its future development and functionalities are subject to further evaluation and regulatory approvals. #Write2Earn #TrendingTopic #DYM #TrandNTell #indiaceyptotax