Indian Banks Offer Incentives To Boost Digital Currency Transactions Says Sources

According to three sources, Indian banks are providing incentives for executing transactions with the e-rupee, the central bank’s digital currency, in an effort to increase volume.

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According to them, the benefits are comparable to those provided by the banks on credit and debit cards and vary from cashbacks to reward points.

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Since they were not authorised to speak with the media, the sources chose not to be identified.

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A million transactions per day are what the RBI hopes to achieve by year’s end after launching a pilot program for the e-rupee in December.

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the central bank has added new capabilities, such as tying the virtual currency to India’s well-liked real-time payments network

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The largest private lender in India, HDFC Bank, has launched these initiatives to increase the volume of these kinds of deals

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