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Technology
Amit Shah Unveils India's First Central Bank Digital Currency to Enhance Transparency
✍️ News On AIR
🗓 19 Jul 2026, 09:48 PM
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In a landmark event, Home Minister Amit Shah inaugurated India's inaugural Central Bank Digital Currency (CBDC), aiming to improve transparency in the country’s monetary delivery mechanisms.
On Thursday, Home Minister Amit Shah launched India’s first Central Bank Digital Currency (CBDC) in a press conference held in New Delhi. The new digital currency is designed to provide a transparent and traceable mechanism for the delivery of government funds and subsidies.
The CBDC will be issued by the Reserve Bank of India and is expected to reduce the reliance on physical cash, improve the efficiency of payment systems, and curb illicit transactions. By digitising the currency, the government aims to create a tamper‑proof ledger that can be monitored in real time.
Experts say that the introduction of a CBDC could strengthen financial inclusion by enabling easier access to digital payments for rural and underserved populations. The central bank will also use the platform to monitor the flow of funds and ensure that subsidies reach their intended recipients without leakage.
The launch marks a significant step in India’s digital economy strategy, aligning with global trends where several countries are exploring or have already implemented central bank digital currencies.
The CBDC will be issued by the Reserve Bank of India and is expected to reduce the reliance on physical cash, improve the efficiency of payment systems, and curb illicit transactions. By digitising the currency, the government aims to create a tamper‑proof ledger that can be monitored in real time.
Experts say that the introduction of a CBDC could strengthen financial inclusion by enabling easier access to digital payments for rural and underserved populations. The central bank will also use the platform to monitor the flow of funds and ensure that subsidies reach their intended recipients without leakage.
The launch marks a significant step in India’s digital economy strategy, aligning with global trends where several countries are exploring or have already implemented central bank digital currencies.