PANews reported on April 24th, citing CoinDesk , that the Reserve Bank of India (RBI) is piloting approximately $ 80 billion in welfare spending in e-rupee across about 10 trials to reduce subsidy "leakage" and corruption, and to identify clear scenarios for CBDC (CBDC). In Maharashtra, farmers can receive a programmable subsidy covering 80% of drip irrigation costs, usable only at designated merchants; Gujarat plans to migrate food subsidies for 7.5 million eligible households to e-rupee by June . Since its launch in December 2022 , e-rupee has accumulated approximately $ 3.6 billion in transactions, far less than the Unified Payments Interface (UPI) , which processes approximately $ 300 billion in transactions monthly. Meanwhile, the RBI is pushing for a proposal at the 2026 BRICS summit to integrate national CBDCs and reduce dependence on the US dollar, but this move could trigger geopolitical risks such as US tariffs.
India is pushing forward with a digital rupee pilot program and plans to connect with BRICS countries' CBDCs.
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