India e₹ (Digital Rupee)
Reserve Bank of India
Status
Metrics
Architecture
Cross-Border Projects
No cross-border projects reported.
Capabilities
Frequently Asked Questions
Does India have a CBDC?
Yes, India is developing India e₹ (Digital Rupee), currently in pilot phase.
What is the status of India's CBDC?
India e₹ (Digital Rupee) is in pilot phase as of 2026-02-17. The pilot program is actively testing with real users.
When did India launch its CBDC pilot?
The pilot launched on 2022-12-01. As of 2025-12-01, it has 8,000,000 wallets.
How many people use India's CBDC?
As of 2025-12-01, India e₹ (Digital Rupee) has 8,000,000 wallets/users. Annual transaction volume is $0 billion.
Is India's CBDC retail or wholesale?
India e₹ (Digital Rupee) is a hybrid CBDC designed for both retail and wholesale use cases.
Which central bank manages India e₹ (Digital Rupee)?
India e₹ (Digital Rupee) is managed by Reserve Bank of India.
Recent Developments
According to the RBI, India's e-Rupee CBDC pilot has expanded significantly since its December 2022 launch. As of December 2025, retail e-Rupee (e₹-R) reached approximately 8 million users across 19 participating banks (expanded from initial 13 banks). e₹ circulation reached ₹1,016.5 crore (~$122 million USD) by March 2025, representing a 334% increase from ₹234 crore a year earlier. Cumulative transaction value exceeded USD 3 billion by end-2025. Offline payment functionality launched October 2025 using NFC tap technology for rural and remote areas. Programmability features expanded August 2024 to include fuel, groceries, education, dining, healthcare, and travel use cases. According to RBI Governor Sanjay Malhotra (October 2025), programmability is unlocking new paradigms in purpose-driven direct benefit transfers, with cash transfer schemes expected to benefit nearly 10 million women. RBI has initiated cross-border payment testing and launched a CBDC hackathon focusing on tokenized KYC and offline functionality enhancements.
Updated: 2/17/2026