00:00Will India's E-Rupee become one of the biggest digital currencies in the world?
00:03While central bank digital currencies are in pilot stage in nearly 50 countries,
00:08India already has one of the biggest user base, around 10 million users.
00:12With more than 200 million users, China's PYuan is still ahead.
00:15But India could eventually become the biggest issuer if adoption takes off.
00:19Right now, India is testing E-Rupee in its $80 billion welfare system.
00:24Recent pilot projects in farming and subsidized food aim to deliver payments more efficiently
00:29and make sure money actually reaches the right people.
00:32For example, farmers receive subsidies directly into a digital wallet.
00:36This money is programmable, meaning it can only be spent on approved items like irrigation equipments.
00:42The goal is to reduce corruption and expand the use of E-Rupee.
00:46But programmable money means government can control how, where and when you spend it.
00:51That's why critics warn this could limit financial freedom
00:53and even discourage people from adopting the E-Rupee or trusting their savings with it.
00:58Do you use E-Rupee yet?
00:59Do you use E-Rupee yet?
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