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Technology
PM Amit Shah Unveils India’s First Central Bank Digital Currency
✍️ Newsonair
🗓 14 Aug 2026, 07:36 PM
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Prime Minister Amit Shah inaugurated India’s inaugural Central Bank Digital Currency (CBDC) today, aiming to enhance transparency in the delivery of government schemes and reduce cash dependency.
Prime Minister Amit Shah inaugurated India’s first Central Bank Digital Currency (CBDC) today in a ceremony held in New Delhi.
The digital currency, issued by the Reserve Bank of India, is designed to bring greater transparency to the delivery of government schemes and subsidies, allowing beneficiaries to track payments in real time.
Officials said the CBDC will also reduce the need for physical cash, curb corruption, and improve financial inclusion by enabling secure, instant transactions across the country.
The launch marks a significant step in India’s digital economy strategy, with the RBI planning to integrate the CBDC into existing payment systems over the coming months.
The digital currency, issued by the Reserve Bank of India, is designed to bring greater transparency to the delivery of government schemes and subsidies, allowing beneficiaries to track payments in real time.
Officials said the CBDC will also reduce the need for physical cash, curb corruption, and improve financial inclusion by enabling secure, instant transactions across the country.
The launch marks a significant step in India’s digital economy strategy, with the RBI planning to integrate the CBDC into existing payment systems over the coming months.