Friday, 24 March, 2023

RBI to Introduce  First Iteration of Digital Rupee On 1st November

<p>Starting on November 1st, RBI will launch its first Digital Rupee experiment in the wholesale sector. Regional Bank The RBI has created a digital or virtual money called &quot;Digital Currency-Wholesale.&quot; and &nbsp;functions just like a fiat money. Nine banks have been chosen to be part in pilot: State Bank of India, Bank of Baroda, Union Bank of India, HDFC Bank, ICICI Bank, Kotak Mahindra Bank, Yes Bank, IDFC First Bank, and HSBC.</p>