IndusInd Bank, in collaboration with Circularity Innovation Hub India Private Limited (CIH), has achieved a significant milestone by successfully executing the Reserve Bank of India’s pilot program on programmable Central Bank Digital Currency (CBDC). This pioneering initiative aims to revolutionize agricultural finance by targeting farmers for carbon credit generation. Pilot Project Details In this pilot project, IndusInd Bank programmed the CBDC to facilitate fund disbursement with a specific focus on aiding farmers in Ratnagiri district, Maharashtra. The bank initiated disbursements to 50 farmers initially, with plans to extend the program to cover approximately 1,000 farmers….
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