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IndusInd Bank and IGL Partner to Enable Digital Rupee Transactions In Delhi NCR

Published on November 27, 2023
Current Context: The partnership between IndusInd Bank and Indraprastha Gas Limited (IGL) to enable digital rupee transactions in Delhi NCR was made on 24th November, 2023.
IndusInd Bank and IGL Partner to Enable Digital Rupee Transactions In Delhi NCR
  • IndusInd Bank has announced its association with Indraprastha Gas Limited (IGL) to facilitate the acceptance of Digital Rupee, the Central Bank Digital Currency (CBDC) launched by the Reserve Bank of India in 2022.
  • This collaboration will enable customers at select IGL stations in Delhi NCR to make payments using the Digital Rupee.
  • The Digital Rupee solution is available on both iOS and Android platforms, ensuring a user-friendly experience and offering various features such as peer-to-peer (P2P) and peer-to-merchant (P2M) payments with complete UPI QR interoperability.
  • Mr. Sumant Kathpalia, Managing Director & CEO, IndusInd Bank, said, “The adoption of CBDC is a significant step in reshaping financial landscape.
  • We believe that Digital Rupee, with its blockchain technology, fortifies financial services, by offering faster, convenient and secure transactions.
  • With the introduction of UPI interoperability, Digital Rupee is poised to become another significant platform contributing towards a ‘cashless’ economy.

Question:

Q.1 When was the partnership between IndusInd Bank and IGL announced?
a. 24th October, 2023
b. 24th November, 2023
c. 24th December, 2023
d. 24th January, 2024

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