RBI to Launch Pilot Project of Digital Rupee Tomorrow: What is it and how does it function?

In the beginning, four banks in four cities—Mumbai, New Delhi, Bengaluru, and Bhubaneswar—State Bank of India, ICICI Bank, Yes Bank & IDFC First Bank—will issue digital tokens in same denominations of paper currency.

Central Bank Digital Currency- Future Of Money

Which will encompass specific regions and banks inside a closed user group (CUG) made up of participating customers & merchants, will be introduc on December 1.

What is retail digital rupee?

The retail e-rupee will essentially be a electronic version for cash and be use mostly for retail transactions.

How will CBDC retail digital rupee work in India?

why is a pilot launch of the e-rupee necessary?

The pilot project, according to the central bank, would assess the stability of the complete creation, distribution, and retail use of digital rupees in real time.

What are the benefits of using the e-rupee?