[jqpabc123]

So why would India need, or benefit from additional CDBC?

What makes the UPI system work *is* effectively a CBDC. It's not possible to have instant transfer without *something* that functions like a CBDC --- though it may be named something else. The EU calls theirs a "credit transfer scheme" --- same difference.

The word that seems to be confusing people is the word *currency*.

A CBDC will be used by *banks* to benefit consumers but it is not something that consumers will consciously partake of. Consumers won't carry CBDC in their pocket or in a special digital wallet.

One way to look at it is that a CBDC would be used to add the functionality of digital wallet to everyone's existing bank account.