Reserve Bank of India Begins Piloting Digital Rupee

Anything generally related to the field as a whole, its community, or anything not relevant to any other category can go here.
Forum rules
Pretty similar to the Discord, overall. Not on the Discord? Join it here!
Post Reply
Posts: 156
Joined: Sun Sep 12, 2021 10:43 am


The Reserve Bank of India (RBI) today launched a digital rupee pilot program for the wholesale sector, identifying nine banks as well as the State Bank of India. to participate in this project

Reuters Report from Bengaluru city India on Nov 1 that the use case of the pilot programSLOT XO will be the settlement of secondary market transactions in government securities. The "e-rupee" currency is expected to make the interbank market more efficient. In addition, paying in the bank's digital currency will reduce transaction costs.

RBI also added that It is planned to start using the e-rupee currency. for the retail sector within 1 month in the selected area

RBI said in early October that the bank had been exploring the advantages and disadvantages of central bank digital currencies for some time. and is executing the strategy for further use in practice

However, the central bank's plans for digital currency It happened amid strong domestic opposition to cryptocurrencies.
Post Reply