THE PRINTER IS COMING: RABBIT HOLE RECAP #387

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- India | NPCI Confirms CBDC is Live With Spending Controls

The National Payments Corporation of India (NPCI) confirmed that India’s digital rupee CBDC is live with partner banks and is being used by the state for subsidy payments. At India Blockchain Week, an NPCI consultant shared that the digital rupee can be restricted for specific purposes, approved merchants, and particular locations. For example, recent transfers of the programmable CBDC for farmers and livestock owners limited purchases to “approved inputs” with geographic tagging enabled. The CBDC is compatible with India’s state-run payment system, known as Unified Payment Interface (UPI), enabling users to pay with the digital rupee by scanning existing UPI QR codes. FinancialFreedomReport.org

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16:15 - Gridless