India launches CBDC pilot using 24/7 grain ATMs
Public can use QR codes or SMS passwords to release food
Gujarat in western India has launched a central bank digital currency pilot in which grain is dispensed from 24/7 automated teller machines (ATMs) as part of the state’s public welfare programme.
At the launch on February 15, state minister Bhupendra Patel said the Reserve Bank of India-licensed scheme would ensure that subsidised food reached the people entitled to it, as well as helping to tackle ration card fraud.
The programmable digital rupees, which can only be used to purchase grain, will
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