Story perspectives

RBI Expands e-Rupee, Targets 7.5 M Subsidy Users, Eyes BRICS CBDC

4/26/2026

Summary

Story summary

Reserve Bank of India (RBI) expands e-rupee by routing its $80 billion welfare system through 10 pilots to curb subsidy leakage.
Maharashtra’s Phulenagar farmers receive subsidies covering 80 % of drip-irrigation costs, spendable only at approved vendors.
Gujarat aims to onboard about 7.5 million food-subsidy households via e-rupee transfers by June 2026.
RBI proposes a BRICS (Brazil, Russia, India, China, South Africa) CBDC to streamline trade and cut U.S. dollar reliance before 2026 summit.

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Story summary

Reserve Bank of India (RBI) expands e-rupee by routing its $80 billion welfare system through 10 pilots to curb subsidy leakage.
Maharashtra’s Phulenagar farmers receive subsidies covering 80 % of drip-irrigation costs, spendable only at approved vendors.
Gujarat aims to onboard about 7.5 million food-subsidy households via e-rupee transfers by June 2026.
RBI proposes a BRICS (Brazil, Russia, India, China, South Africa) CBDC to streamline trade and cut U.S. dollar reliance before 2026 summit.