They achieved 1 million transaction per day by asking their employees to use it, that is some stupid tactics. Few days back I received a notification from my bank that a small transaction using the digital rupee wallet will qualify me for a bonu of INR 5. Even Amazon give more cash back than those the RBI. If they want Indians to use the digital rupee like UPI they need to provide some good offers first. Such shitty offers won't help them.
Yeah that's very true. Just because the RBI poked the banks they started this initiative of giving their employees incentive in eRupee.
If RBI wouldn't have made this a target then we wouldn't have reached 1 million transactions a day.
As per latest data there are around 1 million transactions happening on the CBDC ledger.
Let me correct you, its not 1 million transactions per day, it's 1 million in volume per day which means 10 lakh rupees for a day and that won't even be a considerable amount to be honest and even those 1 million is achieved simply because banks tried moving funds back and forth which created volume and so they can claim there is spike in the volume.
No, it's actually the count of transactions that have hit 1 million per day as per the article I have posted in OP.
Indian banks disbursed some employee benefits through digital rupee in December, helping the Reserve Bank of India meet its target of one million daily transactions by end-2023, three sources directly familiar with the development said.