Engagements are ongoing with multiple countries for UPI QR based payments, person to person payments, and developing UPI like systems. 16. To provide a more efficient alternative to private cryptocurrencies, RBI has embarked on the journey to introduce CBDC (Digital Rupee). It is expected to work as another efficient choice along with existing payment products.
I see this workshop and the follow-up I expect from it, as indispensable first steps, leading to a more structured project, involving a wider set of stakeholders and market participants. I hope that the exchange of views today will prove fruitful to our common endeavour. Thank you for your attention. BIS central bankers’ speeches  3