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RBI Digital Rupee Pilot Launch On December 1: What You Need To Know

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.

(by Anvesh Reddy)

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