KOCHI: HDFC Bank has unveiled five innovative features to accelerate the adoption and usage of the Central Bank Digital Currency (CBDC), also known as the Digital Rupee. Key initiatives include the ability for customers to convert credit card reward points directly into Digital Rupee and the distribution of Digital Rupee gift vouchers for promotional campaigns. To streamline corporate payouts, the bank will enable businesses to disburse food, fuel, and travel allowances, as well as reimbursements, in Digital Rupee via its Corporate NetBanking platform. Additionally, HDFC Bank is integrating Digital Rupee wallets into the BHIM app and plans to introduce an offline CBDC payment solution soon, allowing passengers to pay for in-flight meals, beverages, and seat upgrades even without internet connectivity. HDFC Bank reiterated its commitment to collaborating with the Reserve Bank of India (RBI) to build a secure and expansive ecosystem for the Digital Rupee.
