Friday, 24 March, 2023

India To Pilot Retail Digital Currency On December 1

<p>The retail digital rupee will be launched on December 1, 2022, as the Reserve Bank of India said today. Eight banks have been chosen by the central bank to take part in this trial in stages. A digital token that stands in for legal cash will be used to symbolize the digital rupee. Digital currency will be issued by the RBI in the same denominations as paper money and coins. The pilot will cover Mumbai, New Delhi, Bengaluru, and Bhubaneswar and will later extend to other cities.</p>