India's largest public sector bank, State Bank of India (SBI), has introduced UPI (Unified Payments Interface) interoperability with Digital Rupee, India’s Central Bank Digital Currency (CBDC). Currently, there are 300 million UPI users and 500 million merchants who use UPI to accept money for their businesses in India. The move is aimed at enhancing the convenience and accessibility of digital transactions for its customers. Through the 'eRupee by SBI' application, CBDC users can integrate their Digital Rupee holdings with the UPI platform, allowing for efficient scanning of merchant UPI QR codes. The successful integration of CBDC and widely used UPI marks a milestone.
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