GANDHINAGAR: Union Home Minister Amit Shah will inaugurate India's first Central Bank Digital Currency (CBDC)-based Public Distribution System (PDS) on Sunday at the Mahatma Mandir in Gujarat's Gandhinagar, government officials said on Friday.
The initiative, undertaken by the Gujarat Food, Civil Supplies and Consumer Affairs Department, introduces subsidy transfers through the Reserve Bank of India-authorised CBDC platform.
The system has been developed by the Punjab National Bank and will provide beneficiaries with digital tokens in their wallets containing details of the commodity, quantity and price.
Under the pilot phase, 26, 333 families in the Sabarmati zone of Ahmedabad, as well as in Surat, Anand and Valsad, have been covered.