Digital Rupee: IDFC First Bank has integrated its Central Bank Digital Currency (CBDC) app with UPI QR codes.
Digital Rupee: IDFC First Bank made a big announcement to increase the trend of Digital Rupee. The bank said that it has integrated its Central Bank Digital Currency (CBDC) app with UPI QR codes.
Payment will be easy with Digital Rupee
IDFC First Bank said in a statement that it is part of the CBDC initiative of the Reserve Bank of India (RBI) for retail users. In such a situation, this new facility will simplify payment approval for merchants. They will be able to easily accept payments made with Digital Rupee.
The statement further said that payments can be made easily using digital rupee only through the existing UPI QR codes of the merchants.
Madhivanan Balakrishnan, Executive Director, IDFC First Bank, said that the UPI interoperability facility will accelerate the adoption of CBDC across the country.
Up to 95% return in 1 year
IDFC First Bank Shares have given huge returns to investors. Private bank stock (IDFC First Bank Share Price) has given returns of up to 95 percent in one year. The stock’s return in 6 months was 73%, while this year the stock has risen 62% so far.
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