Kochi Metro becomes the first to accept digital currency for parking

Kochi Metro becomes the first to accept digital currency for parking

Daily Current Affairs   /   Kochi Metro becomes the first to accept digital currency for parking

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Category : State Published on: March 16 2023

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  • Kochi Metro Rail Limited has become the first metro to accept the central bank digital currency issued by the RBI. 
  • Kochi Metro has prepared a system to pay parking charges in e-rupees. 
  • The service will initially be available at the parking lot adjacent to Thaikudam Metro Station. 
  • Later, the facility will be extended to other station parking lots as well.
  • Technology start-up Anantham Online has made this service available at Kochi Metro Parking in collaboration with IDFC First Bank. 
  • The public can make money transactions through digital wallets of banks providing e-rupee service.
  • RBI, recently announced the launch of Central Bank Digital Currency for retail users.
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