RBI Introduces Unified Markets Interface for Asset Tokenization
In October 2025, the Reserve Bank of India (RBI) introduced the Unified Markets Interface (UMI) as a major reform to modernise India’s financial infrastructure through asset tokenisation and real-time settlement using wholesale Central Bank Digital Currency (CBDC)
UMI enables traditional financial instruments such as commercial papers, bonds, and certificates of deposit to be converted into digital tokens, allowing trading in smaller, fractional units. This enhances liquidity, transparency, and market participation.
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