India Pilots Digital Rupee for Welfare Payments

India is leveraging its central bank digital currency (CBDC), known as the e-rupee, to modernize its $80 billion welfare system and combat historical inefficiencies. By utilizing programmable digital funds, the government aims to ensure that subsidies reach the intended recipients without the risk of corruption or diversion. While China currently leads the global race with over 200 million e-yuan users, India's pilot programs are testing the e-rupee's potential to become a cornerstone of the world's most populous nation's financial infrastructure.