RBI

CBDC — Digital Rupee (e₹) What is CBDC? A Central Bank Digital Currency (CBDC) is the digital form of a country’s sovereign fiat currency, issued and regulated by its central bank. India’s CBDC is called the Digital Rupee (e₹) or e-Rupee, issued by the Reserve Bank of India (RBI) as a direct liability of the central bank — just like physical cash. 1 Unlike private cryptocurrencies (Bitcoin, Ethereum), the Digital Rupee is legal tender — guaranteed by the Central Government under Section 26 of the RBI Act, 1934. 2 It is at par with physical currency and can be used as a medium of exchange, store of value, and unit of account. 3 ...

Account Aggregator (AA) — India’s Consent-Based Financial Data Sharing Framework: Complete 101 Guide Last updated: June 2026 What is Account Aggregator (AA)? The Account Aggregator (AA) framework is a Reserve Bank of India (RBI)-regulated system that enables individuals and businesses to securely share their financial data between regulated institutions, with explicit consent and in a structured, encrypted manner. Formally, an Account Aggregator is an NBFC-AA (Non-Banking Financial Company — Account Aggregator) licensed by the RBI under Section 45JA of the RBI Act, 1934. 1 ...

DPI Weekly Deep Dive — RBI’s 2FA Mandate Reshapes Digital Payments | Week of April 6-12, 2026 Executive Summary India’s digital payments landscape underwent its most significant security transformation since UPI’s launch on April 1, 2026. The Reserve Bank of India’s Authentication Mechanisms for Digital Payment Transactions Directions, 2025 came into full effect, mandating two-factor authentication (2FA) for all domestic digital payments. This regulatory overhaul moves beyond the prevalent SMS-based OTP model to embrace biometrics, device binding, hardware tokens, and risk-based authentication—representing a fundamental shift in how 200+ billion annual digital transactions are secured.1 ...