RBI set to launch retail CBDC pilot

Indian rupees

The Reserve Bank of India will begin the pilot of its retail central bank digital currency (CBDC) on December 1.

The pilot of the ‘e₹-R’ follows the launch of the pilot phase for the ‘e₹-W’, the wholesale version of the CBDC, in early November.

Today (November 29), the RBI said it would begin testing the retail CBDC with a “closed user group” of consumers and merchants. In contrast to other electronic forms of money, the CBDC will be issued as tokens in the same denominations as paper currency

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