RBI may soon launch digital rupee
The Reserve Bank of India (RBI) may soon issue its first digital rupee (e₹). RBI has also made an announcement regarding this on Friday. In which it is said that it will soon offer the e₹ on a pilot basis for specific use. The RBI, in a note on ‘Central Bank Digital Currency’, said that the specific features and benefits of e-rupee will be notified from time to time along with expanding the range and scope of such offerings on a pilot basis. Information will be given.
The Concept Note also discusses key considerations such as technology and design choices, possible uses of Digital Rupee, issuance mechanisms, etc. It examines the implications of introduction of CBDC on the banking system, monetary policy, financial stability, and analyses privacy issues.
The Reserve Bank will soon commence pilot launches of e₹ for specific use cases. As the extent and scope of such pilot launches expand, RBI will continue to communicate about the specific features and benefits of e₹, from time to time.
