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Wholesale CBDC pilot expands as subsidy outlook improves
India’s wholesale CBDC pilot scaled up, while easing fertilizer prices may reduce subsidy needs in coming fiscal years.
India’s wholesale central bank digital currency pilot has expanded to reach around seven million users, reflecting gradual progress in digital settlement adoption. Separately, the Fertiliser Association of India cautioned against overseas fertilizer purchases, arguing that domestic sourcing retains greater value within the economy.