India digital rupee transactions tracking below target – source

By Siddhi Nayak

MUMBAI (Reuters) – Transactions in the Indian digital rupee are averaging close to 18,000 a day, a source directly familiar with the matter said on Thursday, well below the target of hitting a million transactions a day by year-end.

The source declined to be identified as he is not authorised to speak to the media.

The central bank last year began pilot programmes to use the e-rupee in retail and wholesale markets as an alternative to cash.

The RBI did not immediately respond to Reuters’ email.

(Reporting by Siddhi Nayak; Editing by Sonia Cheema)