Indian banks offering cashback rewards to drive digital rupee adoption: Report

Indian banks are offering users incentives to drive the adoption of the country’s central bank digital currency, the e-Rupee. According to a report by Reuters, the incentivising campaign is led by the country’s central bank, the Reserve Bank of India (RBI) to boost digital currency volumes. Under this scheme, banks will offer users rewards for conducting transactions with the e-Rupee.

The report claims that the rewards range from cash-backs to reward points and will be similar to those offered by the banks on credit and debit cards. RBI is yet to offer an official comment on the digital rupee adoption drive.