RBI Governor Urges States to Use Programmable CBDC for DBT
1 report, 1 independent
Updated Tue 00:00
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What happened
Sanjay Malhotra, Governor of the Reserve Bank of India, urged all states to route more Direct Benefit Transfer schemes through programmable CBDC. This push follows the rollout of programmable CBDC tokens for the PMGKAY food subsidy program in India. Chandigarh and Dadra & Nagar Haveli began full operationalization in August 2026, using purpose-bound digital rupees spendable only at approved merchants for foodgrains.
Why it matters
The implementation of purpose-bound digital currency for subsidies aims to cut leakages and ensure government funds are used as intended. This shift in distribution method changes how subsidies are managed and spent across the country.
Who's involved
- Sanjay MalhotraGovernor of the Reserve Bank of India, leading policy implementation
- Reserve Bank of IndiaCentral bank of India responsible for monetary policy
- IndiaThe nation implementing the CBDC rollout for subsidies
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The entities involved
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Sanjay Malhotra
governor of the Reserve Bank of India (RBI)
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