2 years ago
Pilot for retail digital rupee to begin on December 1
The HinduThe Reserve Bank of India on November 29 announced that the first pilot for the retail version of the digital rupee would be introduced on December 1, 2022. The pilot would cover select locations in closed user groups comprising participating customers and merchants. The first phase will begin with four banks, namely State Bank of India, ICICI Bank, Yes Bank and IDFC First Bank in four cities across the country. “The pilot would initially cover four cities, namely Mumbai, New Delhi, Bengaluru and Bhubaneswar and later extend to Ahmedabad, Gangtok, Guwahati, Hyderabad, Indore, Kochi, Lucknow, Patna and Shimla,” RBI said in a statement.
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