The Government of India launched a Central Bank Digital Currency (CBDC)-based food subsidy distribution pilot under the Pradhan Mantri Garib Kalyan Anna Yojana (PMGKAY) in the Union Territory of Puducherry. The initiative integrates the Digital Rupee into India’s Direct Benefit Transfer framework to improve efficiency and transparency in food subsidy delivery. What is the Digital Rupee? The Digital Rupee (e-rupee) is a tokenised digital version of the Indian rupee issued Read More …
