In a bid to enhance accessibility and adoption, the Reserve Bank of India, led by Governor Shaktikanta Das, is eliminating the need for internet connectivity for its digital currency.

Despite concerns raised by some institutions about central bank digital currencies (CBDCs), India is actively pursuing its adoption, with over 1.3 million consumers and 300,000 businesses already using digital money.

While daily CBDC usage has reached 1 million, consumer preference still leans towards rapid mobile payment methods.

However, challenges such as data privacy and cybersecurity remain significant hurdles to a complete rollout, with only a few countries, including Nigeria, Jamaica, and the Bahamas, having publicly launched their digital currencies.