India’s Digital Rupee Pilot: Setting the Benchmark for Global CBDCs

The world is witnessing a surge in the adoption of Central Bank Digital Currencies (CBDCs) as central banks worldwide actively explore, test, and pilot their own digital versions. While interest is growing, daily usage by citizens remains limited. 2024 saw India launch its Digital Rupee pilot program which set a benchmark for other countries looking to implement CBDCs. With over 1.3 million users and 300,000 merchants enrolled by early 2024, the Indian pilot integrates smoothly with existing infrastructure like UPI and Aadhaar, leveraging their successful digital payment ecosystem.