RBI to launch first pilot of Digital Rupee today
RBI Digital Rupee: The Reserve Bank of India (RBI) will launch first pilot of Central Bank Digital Currency -- Digital Rupee (Wholesale segment) on November 1, 2022 (Tuesday) for transactions in government securities, a statement said on Monday.
The use case for the pilot is settlement of secondary market transactions in government securities, the RBI said in a statement on Monday.
Nine banks -- State Bank of India (SBI), Bank of Baroda, Union Bank of India, HDFC Bank, ICICI Bank, Kotak Mahindra Bank, Yes Bank, IDFC First Bank and HSBC -- have been identified for participation in the pilot.
The RBI also said the first pilot of Digital Rupee - Retail segment is planned for launch within a month in select locations in closed user groups comprising customers and merchants.
(With inputs from PTI)
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