Current Affairs - Banking - Discussion

Bank of India became live with user-level programmable digital rupee (e₹) functionality and auto-issuance capability on its Central Bank Digital Currency (CBDC) platform on October 1, 2026. The platform was developed by Montran India in compliance with RBI and NPCI guidelines. The functionality enables automatic transfers of e₹ to a beneficiary’s CBDC wallet at fixed amounts and frequencies. It also supports purpose-based controls that remain attached to the money and restrict how recipients can spend it. Established in 1906 and headquartered in Mumbai, Bank of India was nationalised in July 1969.