“India’s Digital Rupee Records Over 1 Million Daily Transactions”

India’s digital currency landscape reached a new milestone as the central bank’s Digital Rupee recorded over a million transactions in a single day. On December 27, 2023, this feat was realized with the help of retail bank employees who were encouraged to use the Digital Rupee for their financial transactions. Despite the country’s strong movement towards cashless transactions through the Unified Payments Interface (UPI), the Digital Rupee has generally seen modest usage, averaging about 25,000 transactions daily. To boost its use, several banks initiated a strategy where employees’ salaries and benefits were deposited directly into their Digital Rupee wallets. This move, however, stirred mixed reactions among bank employee unions. While some see it as a positive step towards embracing digital currency, others argue against the forced adoption of the technology .

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