SBI introduces UPI interoperability in Digital Rupee

The seamless integration of CBDC with UPI marks a significant leap for the bank

Updated - September 04, 2023 10:49 pm IST

Published - September 04, 2023 01:51 pm IST - MUMBAI


File. | Photo Credit: Reuters

The State Bank of India (SBI), the public sector lender said it had implemented Unified Payments Interface (UPI) interoperability in Digital Rupee (₹) also called as Central Bank Digital Currency (CBDC). 

Also read: Explained: RBI’s digital currency plans

“This cutting-edge feature, accessible through the ‘eRupee by SBI’ application will empower SBI CBDC users to effortlessly scan any merchant UPI QR code for swift and secure transactions,” SBI said in a statement.

The seamless integration of CBDC with UPI marks a significant leap for the bank, enhancing the acceptance and utilisation of digital currencies in everyday transactions, the bank added. 

“This integration will be a game changer for the digital currency ecosystem,” it further said.

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