In a first, Anand Mahindra buys fruit using India’s digital currency ‘e-rupee’; shows how it works
1 year, 10 months ago

In a first, Anand Mahindra buys fruit using India’s digital currency ‘e-rupee’; shows how it works

Firstpost  

The industrialist bought pomegranates from the vendor and settled the payment with digital money. He also informed that Bachche Lal Sahani, a local fruit seller, happened to be one of the first merchants to accept ‘e-rupee’ transactions New Delhi: Business tycoon Anand Mahindra recently used India’s digital currency– the ‘e-rupee’ or ‘e-R,’ to buy fresh fruit from a local vendor. He also informed that Bachche Lal Sahani, a local fruit seller, happened to be one of the first merchants to accept ‘e-rupee’ transactions. Captioning the video, Anand Mahindra wrote that he learned about the digital currency, ‘e-rupee,’ at the Reserve Bank of India’s board meeting. The Reserve Bank of India launched the pilot program for its first digital currency, the ‘e-rupee,’ on 1 December, 2022.

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History of this topic

RBI’s Digital Rupee: Google, PhonePe, Amazon Pay, Cred, and Mobikwik To join digital currency pilot project
4 months, 2 weeks ago

RBI’s Digital Rupee: Google, PhonePe, Amazon Pay, Cred, and Mobikwik To join digital currency pilot project

The Hindu  

Google, PhonePe, Amazon Pay, Cred and Mobikwik are looking to join Indian central bank’s digital currency project by offering transactions in e-rupee, a digital alternative to the physical currency. The news comes as transactions using the digital currency reached over a million a day last year, however, they have declined ever since, to about 100,000-200,000 a day. However, in April …

RBI’s digital rupee must leap over many hurdles for wider adoption
6 months, 1 week ago

RBI’s digital rupee must leap over many hurdles for wider adoption

Live Mint  

The Reserve Bank of India has been striving to boost the adoption of its Retail-Central Bank Digital Currency or e-rupee. RBI is also aiming to onboard more non-bank payment service operators and make the e-rupee inter-operable with India’s Unified Payments Interface. Despite having clearly defined use-cases for their country-specific CBDCs, these pilot projects suffered from weak internet connectivity and poor …

Watch: Anand Mahindra buys fruits using e-rupee
1 year, 10 months ago

Watch: Anand Mahindra buys fruits using e-rupee

Live Mint  

India’s central bank – the Reserve Bank of India introduced e-rupee digital currency pilot on December 1, 2022. Mahindra & Mahindra chairperson Anand Mahindra has recently shared a video on microblogging site Twitter where the billionaire can be seen putting the digital currency to use. “At the Reserve Bank’s board meeting today I learned about the @RBI digital currency-the e-rupee. …

Anand Mahindra buys fruit using India's digital currency e-rupee, shows how it works in video
1 year, 10 months ago

Anand Mahindra buys fruit using India's digital currency e-rupee, shows how it works in video

India Today  

Digital payments are the quickest way to settle balances and the most hassle-free as well. Anana Mahindra buys fruit using e-rupee Sharing the video of using the e-rupee to make payment to the fruit vendor, Anand Mahindra wrote, "At the Reserve Bank’s board meeting today I learned about the @RBI digital currency-the e-rupee. How the digital rupee works The video …

Ready for transactions via e-rupee, says Mumbai fruit vendor selected by RBI for digital currency pilot
1 year, 11 months ago

Ready for transactions via e-rupee, says Mumbai fruit vendor selected by RBI for digital currency pilot

India Today  

Bacche Lal Sahani, a fruit vendor in Mumbai, is among the 15,000 people chosen by the Reserve Bank of India for its nationwide pilot project on Central Bank Digital Currency or e-rupee. On the issue of smoothness of transactions, the fruit vendor said that he’s already received a couple of transactions but accepts that the speed is still an issue …

Explained | Why has the Reserve Bank of India introduced an e-rupee?
2 years ago

Explained | Why has the Reserve Bank of India introduced an e-rupee?

The Hindu  

The story so far: The Reserve Bank of India this week launched the digital rupee on a pilot basis. The digital rupee, or the e-rupee, is a central bank digital currency issued by the RBI. The introduction of central bank digital currencies internationally has worried many who believe that it could disrupt the banking system. A rise in the use …

RBI Rolls Out First Pilot Project For Retail Digital Rupee In 4 Cities
2 years ago

RBI Rolls Out First Pilot Project For Retail Digital Rupee In 4 Cities

ABP News  

The Reserve Bank of India on Thursday launched the first pilot project for retail digital rupee in Mumbai, New Delhi, Bengaluru, and Bhubaneswar. The retail digital rupee project has started in a closed user group with the participation of four lenders -- State Bank of India, ICICI Bank, Yes Bank and IDFC First Bank -- as well as customers and …

All you need to know about e-Rupee
2 years ago

All you need to know about e-Rupee

Deccan Chronicle  

HYDERABAD: The Reserve Bank of India has launched India’s e-rupee on Thursday, as a pilot covering four cities New Delhi, Mumbai, Bengaluru and Bhubaneswar and will subsequently expand it to nine more cities in the initial phase. Four banks – State Bank of India, Yes Bank, ICICI Bank and IDFC First Bank – will be involved initially in the launch …

RBI to launch Digital Rupee pilot in 4 cities today: Supported banks, and more details
2 years ago

RBI to launch Digital Rupee pilot in 4 cities today: Supported banks, and more details

India Today  

The first pilot of the Reserve Bank of India-issued digital Rupee will begin today, December 1. The central bank earlier this week announced that the digital currency will begin with four banks - State Bank of India, ICICI Bank, Yes Bank and IDFC First Bank in four cities across the country. In a release, RBI stated, "The pilot will test …

Pilot for retail digital rupee to begin on December 1
2 years ago

Pilot for retail digital rupee to begin on December 1

The Hindu  

The 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 …

RBI to launch retail digital rupee pilot on 1 December
2 years ago

RBI to launch retail digital rupee pilot on 1 December

Live Mint  

Mumbai: The Reserve Bank of India on Tuesday announced the launch of a pilot for retail digital rupee on 1 December with four banks in four cities, a month after testing the wholesale central bank digital currency. The pilot, RBI said in a press release, would cover select locations in a closed user group, comprising participating customers and merchants. While …

RBI Digital Rupee pilot for wholesale segment from November 1
2 years, 1 month ago

RBI Digital Rupee pilot for wholesale segment from November 1

The Hindu  

The first pilot in the Digital Rupee, Wholesale segment will commence on November 1, 2022, the Reserve Bank of India said in a circular. Settlement in central bank money would reduce transaction costs by pre- empting the need for settlement guarantee infrastructure or for collateral to mitigate settlement risk,” the circular said. The first pilot in Digital Rupee — Retail …

Digital Rupee: RBI To Begin First Pilot In Wholesale Segment on Tuesday
2 years, 1 month ago

Digital Rupee: RBI To Begin First Pilot In Wholesale Segment on Tuesday

News 18  

India’s First Central Bank Digital Currency: The Reserve Bank of India on Monday said the first pilot in the digital rupee– wholesale segment will commence on Tuesday. The announcement comes after the central bank earlier this month said that it will soon commence pilot launch of the digital rupee for specific use cases. The RBI also said, “The first pilot …

India’s RBI to soon commence pilot project of digital rupee
2 years, 2 months ago

India’s RBI to soon commence pilot project of digital rupee

The Hindu  

The Reserve Bank of India will soon commence limited pilot launches of a central bank-backed digital rupee for specific use cases, it said in a concept paper released on Friday. The RBI has been exploring the pros and cons of a central bank digital currency for some time and is working towards a strategy to implement it in a phased …

RBI says e-rupee will bolster India's digital economy, pilot launch soon
2 years, 2 months ago

RBI says e-rupee will bolster India's digital economy, pilot launch soon

Hindustan Times  

The Reserve Bank of India on Friday released a concept note on its digital currency, stating that it will soon begin the pilot launch e-rupee for specific use cases. In a statement, the central bank said the purpose behind the issue of the concept note is to create an awareness about the central bank digital currency and the planned features …

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