RBI launches CBDC app, adds peer-to-peer solar trading feature

The Reserve Bank of India has launched a new mobile application for its Central Bank Digital Currency, giving users a simple way to access the digital rupee through the BHIM platform. Announcing the move, Deputy Governor T. Rabi Sankar said the latest phase introduces a fresh use case - peer-to-peer solar energy trading through the e-rupee.

A step forward in India's digital currency journey

The Central Bank Digital Currency, or CBDC, is essentially the rupee in digital form. It carries the same value as cash but is exchanged electronically and issued directly by the RBI. Unlike private cryptocurrencies, it is a sovereign currency and recognised as legal tender across the country.

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India began testing its digital rupee in 2022, starting with wholesale settlements before extending it to retail users. The goal has been to merge the reliability of central bank-issued money with the speed and ease of modern digital payments.

Over the past year, the RBI has experimented with features such as offline payments and programmable transfers. But the real challenge has been encouraging everyday use. Much of the early activity came from bank-led incentive schemes, and the central bank now wants the e-rupee to find more practical relevance in daily life. The new app and its expanded features are a clear step in that direction.

Using the e-rupee for solar energy transactions

A key highlight of this rollout is the option for peer-to-peer solar trading. The new feature allows households or small producers with surplus solar power to sell directly to others, settling payments instantly in digital rupees. Unveiling the initiative, Deputy Governor Sankar called it a “forward-looking experiment” designed to show how the e-rupee could power innovation in the energy sector. Instant settlement through CBDC removes the need for intermediaries, improving transparency and reducing transaction time between buyers and sellers of clean energy.

The RBI has also been exploring how the digital rupee’s programmable nature can support specific sectors. The solar trading pilot, officials said, could pave the way for similar applications in areas like agriculture, logistics and supply chain finance.

Linking BHIM with CBDC for wider reach

The BHIM app, already one of India’s most trusted digital payment platforms, will now double as a gateway for CBDC access. This link is meant to make the digital rupee more familiar to users who already rely on BHIM for UPI transactions.

According to officials, connecting the CBDC to established payment networks will make onboarding and wallet management simpler. It also enables users to shift effortlessly between UPI and CBDC payments, ensuring smoother interoperability across systems.

By building on BHIM's nationwide presence, the RBI hopes to bring the digital rupee into everyday transactions - from small payments to new use cases like renewable energy trading and make it a natural part of India’s growing digital economy.