Friday, 24 March, 2023

RBI Announced Launch of First Retail Digital Rupee Pilot To Be on December 1

<p>Reserve Bank of India (RBI) announced that the first retail digital rupee or e-rupee pilot will begin on December 1. To begin, the RBI has collaborated with four banks in Mumbai, New Delhi, Bengaluru, and Bhubaneswar: State Bank of India, ICICI Bank, Yes Bank, and IDFC First Bank. Initially, the RBI stated that the pilot would only cover the closed user group (CUG) of participating customers and merchants.</p>