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RBI Digital Rupee Launch News: The Reserve Bank of India (RBI) is set to launch the first pilot for its retail digital Rupee on December 1, 2022. India’s digital Rupee (e₹) initiative is aimed at specific use cases. In case of this pilot, the country’s authorities will be testing settlement of secondary market transactions in government securities. While the Indian government faced criticism for imposing high taxes on retail crypto trade, the usage of e-Rupee is seen as a welcome move in the community. The latest initiative is aimed at making inter-bank market more efficient.
Also Read: Explainer: What is CBDC? What is RBI’s ‘Digital Rupee’ Pilot Programme?
Indian Cities Under Digital Rupee Pilot
The country’s central bank is rolling out the pilot project in select locations in closed user group comprising participating customers and merchants. Initially, four cities in various corners of the country would be covered, the RBI said in a statement on Tuesday.
The post RBI Digital Rupee Pilot Launch On December 1: What You Need To Know appeared first on CoinGape.
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