CBDC Features
RBI Malhotra launches new CBDC features at Global Fintech Fest
This story was originally published at 18:43 IST on 8 October 2025
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--RBI Malhotra launches CBDC retail sandbox
--RBI launches tokenisation of CDs, to be settled via wholesale e-rupee
--RBI: CBDC retail sandbox to give fintech cos access to CBDC tech infra
MUMBAI – Reserve Bank of India Governor Sanjay Malhotra on Wednesday launched two new features related to the RBI's flagship project, the Central Bank Digital Currency, at the Global Fintech Fest here.
The governor rolled out the tokenisation of certificates of deposit settled using wholesale e-rupee. Tokenisation, in the financial context, refers to representing a real-world financial asset in digital form, as a token, on a secure blockchain ledger technology.
The RBI also launched a sandbox of retail Central Bank Digital Currency. The feature will allow financial technology companies access to the digital infrastructure of e-rupee. The firms can build and test solutions as part of the CBDC pilot.
Apart from these, Malhotra launched the interoperability of various financial applications on Bharat Connect. The governor also launched some features related to the Unified Payments Interface, like UPI Reserve Pay and UPI Circle on Internet of Things devices. Under UPI Reserve Pay, users can reserve funds via UPI and use them later. With the other feature, users can give access to any Internet of Things device to make transactions. A user can even make UPI transactions via an IoT-powered car through this feature. End
Reported by Krity Ambey and Aaryan Khanna
Edited by Tanima Banerjee
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