Digital Rupee : RBI To Pilot Launch

On Monday, the Reserve Bank of India (RBI) announced that it would begin rolling out pilot launches of the Digital Rupee

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select applications beginning on November 1, 2022.

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The announcement states that the Wholesale sector (eâ1-W) will launch the first Digital Rupee pilot on Tuesday.

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Bank of Baroda, Union Bank of India, HDFC Bank, ICICI Bank, Kotak Mahindra Bank, Yes Bank, IDFC First Bank, and HSBC are among the nine banks listed by the RBI.

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RBI has long been a vocal opponent of private digital currencies

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but in October of last year it proposed expanding the scope of the paper rupee to include digital currency.

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This is the first official statement from the Union government about the launch of the highly anticipated digital currency

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