RBI To Launch Pilot Program For Digital Rupee On December 1 In Metro Cities | English News
November 29, 2022
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1:55Now PlayingRBI To Launch Pilot Program For Digital Rupee On December 1 In Metro Cities | English News
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as posted by the channelThe Reserve Bank of India is all set to launch the first ever pilot program for retail digital rupee. The launch will be taking place on the 1st of December and will primarily be restricted to only four cities including Mumbai, Delhi, Bengaluru and Bhubaneshwar. The central bank has identified 8 banks for phase wise participation in the initiative. Four other banks will be subsequently joining the scheme. "The pilot would cover select locations in closed user group (CUG) comprising participating customers and merchants. The e₹-R would be in the form of a digital token that represents legal tender. It would be issued in the same denominations that paper currency and coins are currently issued," the press release of RBI stated. Watch to know more!
#rbi #digitaltokens #englishnews
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