Bank of India has launched user-level programmable Central Bank Digital Currency (CBDC) and Auto Issuance capabilities on its digital rupee platform, developed in partnership with Montran India.
The new functionality allows customers to schedule the automatic issuance of a predefined amount of digital rupee to a beneficiary’s CBDC wallet at a specified frequency. Users can also set conditions governing the purpose for which the funds can be spent, providing greater control over recurring payments.
The feature is designed for use cases such as education expenses, allowances and other regular purpose-specific transfers. For instance, a parent can set up a recurring monthly payment to a child’s e₹ wallet, with the funds designated for approved education-related expenses, without having to initiate the transaction manually each month.
Unlike conventional recurring transfers, the user-level programming is configured by the account holder. Once established, the system automatically executes the payment according to the selected amount, frequency and usage parameters.
Julie Esca, Chief Executive Officer, Montran India, said the development expands the role of the digital rupee beyond conventional payments by allowing funds to be issued automatically with defined usage conditions.
Ashutosh Mishra, General Manager and CTO, Bank of India, said user-level programmability provides customers with greater flexibility and control over recurring payments, while Auto Issuance simplifies the process by eliminating repeated manual instructions.
The capability has been developed in accordance with Reserve Bank of India and National Payments Corporation of India guidelines. Bank of India said the launch represents another step in its digital rupee programme as CBDC use cases expand towards more automated and purpose-specific payments.
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