India to use CBDC for government welfare payments

India is exploring the use of its central bank digital currency (CBDC), the e-rupee, for government welfare payments as a way to broaden its adoption, CoinDesk reported. The Reserve Bank of India is currently conducting a pilot program to distribute a portion of its $80 billion in welfare spending via the e-rupee. The initiative aims to reduce fraud in the subsidy distribution process and establish practical use cases for the digital currency.