HDFC becomes first to introduce CBDC-UPI interoperability

09:10:00 PM, Thursday 13th of July 2023 | in business

It hasn't been that long since the Reserve Bank of India rolled out the wholesale and retail versions of Central Bank Digital currency (CBDC) or digital rupee. Now, HDFC Bank, India's largest private lender, has become the first to implement interoperability between CBDC and Unified Payments Interface (UPI). It also boarded over one lakh users in both categories.