Foreign delegates experienced instantaneous payment systems like UPI and e-Rupee first hand at the RBI pavilion at the G20 Summit, New Delhi
Foreign delegates attending the G20 Summit in New Delhi can now use e-Rupee and UPI for payments in India, even without an Indian bank account
UPI One World, a payments product developed by the RBI, allows foreign delegates to make digital payments in India without holding an Indian bank account. It was launched in Feb 2023, and can be used by any foreign national
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e-Rupee, India's central bank digital currency, which was launched by the Reserve Bank of India in 2022, also made an appearance at RBI's pavilion at G20
Just like UPI, Indian CBDC e-Rupee is also available for foreign delegates for payments during their G20 Summit. The delegates do not need an Indian bank account to make these payments
Four major Indian banks - ICICI Bank, Axis Bank, Canara Bank, and State Bank of India - have developed dedicated apps for foreign delegates through which they can use e-Rupee
The RBI pavilion also featured its payments innovation where Indians can make payments via watches, keychains, rings, etc. This product was launched at the Global Fintech Fest in Mumbai, earlier this week
The RBI Pavilion also features 'Frictionless Credit for Farmers.' This innovation spearheaded by the central bank allows farmers to avail credit instantaneously and seamlessly based on the data systems developed by the RBI
Reserve Bank of India has featured its most innovative products at the RBI pavilion at the G20 Summit, which is taking place at Pragati Maidan, New Delhi on September 9th and 10th. Heads of states from the US, the UK, France, Canada, Italy, Bangladesh, Australia, and others are attending the multilateral summit