MoneyWorks4Me

IDFC FIRST Bank partners with Anantham Online to enable CBDC payments

13 Mar 2023 Evaluate

IDFC FIRST Bank and Anantham Online have partnered to enable acceptance of Digital Rupee at Kochi Metro’s parking locations. This partnership comes at the back of the recently launched CBDC (Central Bank Digital Currency), a pilot program launched by the RBI (Reserve Bank of India) for retail users.

This project will help Kochi Metro users to pay digitally using their Bank’s CBDC Wallets and avoid cash transactions. Currently CBDC is in the first phase of its implementation with 4 banks including IDFC FIRST Bank. Digital Rupee acts just like cash transactions to instill safety and trust.

IDFC First Bank provides a range of financial solutions to individuals, small businesses and corporates.

Peers
Company Name CMP
HDFC Bank 714.20
ICICI Bank 1360.20
Axis Bank 1269.00
Kotak Mahindra Bank 439.00
Indusind Bank 876.00
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