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RBI launches e₹-R, Central Bank Digital Currency pilot
source link: https://nextbigwhat.com/rbi-launches-e%e2%82%b9-r-central-bank-digital-currency-pilot/
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Home News RBI launches e₹-R, Central Bank Digital Currency pilot
RBI launches e₹-R, Central Bank Digital Currency pilot
- November 29, 2022
RBI’s CBDC 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.
- It would be distributed through intermediaries, i.e., banks. Users will be able to transact with e₹-R through a digital wallet offered by the participating banks and stored on mobile phones / devices.
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