Digital Rupee with specific end use to improve efficacy: Deloitte

Digital Rupee can play a big role in reducing the cost of cash since the country India has a relatively large proportion of cash in circulation as a percentage of GDP compared to other countries

Given India’s progress on faster payments, Digital Rupee is likely to find early acceptance and commercialization and democratise financial access with features to specify the end use to improve its effectiveness, according to professional services firm Deloitte.

Digital Rupee can play a big role in reducing the cost of cash since the country India has a relatively large proportion of cash in circulation as a percentage of Gross Domestic Product (GDP) as compared to other countries.

Currently, most security clearing and settlement processes have a multi-day lag. With the introduction of Digital Rupee there would be significant increase in efficiencies