The private lender said that, it believes in the value added by Central Bank Digital Currency (CBDC) and aims to provide a seamless and comprehensive payment experience to its customers through the usage of Digital Currency. The Digital Rupee solution is available on both iOS and Android platforms, ensuring a user-friendly experience and offering various features such as peer-to-peer (P2P) and peer-to-merchant (P2M) payments with complete UPI QR interoperability.

Sumant Kathpalia, managing director & CEO, IndusInd Bank, said, “The adoption of CBDC is a significant step in reshaping financial landscape. It believes that Digital Rupee, with its blockchain technology, fortifies financial services, by offering faster, convenient and secure transactions. With the introduction of UPI interoperability, Digital Rupee is poised to become another significant platform contributing towards a ‘cashless’ economy.”

Arun Khurana, Deputy CEO, IndusInd Bank, said, “This strategic partnership with IGL, one of our key customers, marks a significant milestone in our efforts to promote Digital Rupee. It is a progressive step in our constant endeavor to simplify banking experience for the customers and participants in the banking eco-system.”

Kamal Kishore Chatiwal, managing director of IGL, stated that, "We are proud to be part of this pioneering endeavor that integrates our expertise in natural gas distribution with the financial sector. This initiative is right step in enabling secure, inclusive, sustainable and efficient mode of digital transaction which will further strengthen India's position in the global economy."

Pawan Kumar, director (commercial) of IGL, added, "This initiative aligns with our mission to reduce carbon emissions and promote cashless transactions at IGL CNG stations. At IGL, our customer centricity has prompted us to offer ubiquitous technological innovations which are ahead of its time and are introduced at an early stage among CGD companies. It is anticipated that this collaboration will set new industry standards and contribute to the nation's progress on multiple fronts."

IndusInd Bank caters to both consumer and corporate customers. As of 30 September 2023, the bank's distribution network included 2,631 branches/ banking outlets and 2,903 ATMs spread across geographical locations of the country and covering 1,43,000 villages while the client base stood at approximately 37 million.

Indraprastha Gas is a natural gas distribution company. It supplies natural gas as cooking and vehicular fuel.