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. These banks are State Bank of India, Bank of Baroda, Union Bank of India, HDFC Bank, ICICI Bank, Kotak Mahindra Bank, Yes Bank, IDFC First Bank and HSBC.

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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 …

RBI likely to start digital rupee pilot in call money market by next month
1 year, 3 months ago

RBI likely to start digital rupee pilot in call money market by next month

India TV News  

The Reserve Bank of India is likely to introduce the pilot of the Central Bank Digital Currency for transactions for the interbank borrowing or call money market by October, said central bank Executive Director Ajay Kumar Choudhary on Sunday. The pilot for the wholesale Central Bank Digital Currency known as the Digital Rupee-Wholesale was launched on November 1, 2022. RBI …

Digital Rupee: RBI Aims To Expand Use Cases, Features Of Retail, Wholesale CBDC
1 year, 6 months ago

Digital Rupee: RBI Aims To Expand Use Cases, Features Of Retail, Wholesale CBDC

News 18  

The Reserve Bank of India targets to expand the use cases and features of CBDC-Retail and CBDC-Wholesale, according to the central bank’s annual report released on Tuesday. “During 2023-24, the Reserve Bank aims at expanding the ongoing pilots in CBDC-Retail and CBDC-Wholesale by incorporating various use cases and features. “As the Reserve Bank embarks upon the journey of realising the …

E-rupee worth over ₹130 crore in circulation: Sitharaman
1 year, 9 months ago

E-rupee worth over ₹130 crore in circulation: Sitharaman

The Hindu  

Digital or e-rupee worth over ₹130 crore is in circulation on a pilot basis as of February 28, Finance Minister Nirmala Sitharaman said on March 13. Nine banks, viz., State Bank of India, Bank of Baroda, Union Bank of India, HDFC Bank, ICICI Bank, Kotak Mahindra Bank, Yes Bank, IDFC First Bank and HSBC, have been participating in the digital …

E-Rupee to be piloted by 5 more banks in 9 more cities soon
1 year, 10 months ago

E-Rupee to be piloted by 5 more banks in 9 more cities soon

The Hindu  

Five more banks will join the pilot on the central bank digital currency or e-rupee for retail customers and the project will be extended to nine additional cities, the Reserve Bank said on Wednesday. The Reserve Bank, which began piloting the central bank digital currency or e-rupee for retail customers in early December with eight banks in five cities, stressed …

Reliance Retail partners Innoviti to enable digital rupee payment in stores
1 year, 10 months ago

Reliance Retail partners Innoviti to enable digital rupee payment in stores

Live Mint  

New Delhi: Innoviti Technologies, a payments-focused financial-tech firm, in collaboration with Reliance Retail, ICICI Bank and Kotak Mahindra Bank, on Thursday announced the introduction of in-store payments via Digital Rupee-Retail. “After being the first to introduce dynamic QR based in-store UPI payments, Reliance Retail, in continuance of its endeavour to create convenient and seamless payment experience for customers, becomes the …

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. …

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 …

Digital currency to further bolster digital economy, make payment system more efficient: RBI
1 year, 10 months ago

Digital currency to further bolster digital economy, make payment system more efficient: RBI

India TV News  

RBI Executive Director Ajay Kumar Choudhary on Wednesday the digital currency will further bolster the digital economy, make the payment system more efficient and reduce the cost involved in physical cash management. Central Bank Digital Currency The RBI has already launched pilots of CBDC in wholesale and retail segments last year. He said the key motivation for exploring the issuance …

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 …

Digital rupee not the magic bullet Central government is hoping for
1 year, 11 months ago

Digital rupee not the magic bullet Central government is hoping for

The Hindu  

Published : Dec 29, 2022 10:30 IST In recent times, the financial world has been in a state of excitement after the Reserve Bank of India announced the launch of the pilot for a retail digital rupee on December 1. Crypto gamble It is to be noted that with the threat of cryptocurrency, which began with Bitcoin in 2009, now …

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 …

How the RBI's digital currency can help economy
2 years ago

How the RBI's digital currency can help economy

Live Mint  

Readers of a certain age group might remember Ramon Bonus Stamps. What's driving FIIs’ bullish bets on Nifty IIT-K student hits record ₹4 cr placement jackpot Story takes a turn for PVR, Inox Leisure after a flop Q2 How young Indian couples budget for their weddings Imagine different currencies competing for dominance in usage without any sovereign backing. That is …

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 …

Time is right for a digital rupee
2 years ago

Time is right for a digital rupee

Hindustan Times  

Starting this month, the Reserve Bank of India will begin a pilot project that will put a digital rupee, or e ₹, in the hands of individuals. In simple terms, a CBDC is the closest virtual equivalent of cash with the liability for its value resting directly with the central bank, instead of — as is the case at present …

Digital Rupee: Check List Of Banks, Cities That Will Be Part Of CBDC Pilot From December 1
2 years ago

Digital Rupee: Check List Of Banks, Cities That Will Be Part Of CBDC Pilot From December 1

ABP News  

A month after the Reserve Bank of India launched the Digital Rupee for wholesale, the digital rupee for retail — denoted by e₹-R — will be rolled out as part of a pilot from December 1. Retail digital rupee to be launched in four cities Those in Mumbai, New Delhi, Bengaluru, and Bhubaneswar will be able to transact with e₹-R …

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

RBI to launch pilot of retail digital rupee on 1 December

Firstpost  

‘It would be in the form of a digital token that represents legal tender. It would be issued in the same denominations that paper currency and coins are currently issued,’ RBI said Mumbai: The Reserve Bank on Tuesday said it will launch the first pilot for retail digital rupee on December 1, 2022, in which four banks including SBI and …

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 …

’Missing big picture’: Zerodha’s Nikhil Kamath responds to critics of e-rupee
2 years, 1 month ago

’Missing big picture’: Zerodha’s Nikhil Kamath responds to critics of e-rupee

Live Mint  

This month the Reserve Bank of India made a historic decision for India's banking ecosystem. The federal bank started a pilot program of its digital currency allowing select banks to use it for settling secondary-market transactions in government bonds. The RBI Governor termed the launch of the central bank digital currency as a landmark moment in the history of currencies …

Digital Rupee Pilot: Day 1 Sees Rs 275-Crore Trade In 48 G-Sec Transactions, Details Here
2 years, 1 month ago

Digital Rupee Pilot: Day 1 Sees Rs 275-Crore Trade In 48 G-Sec Transactions, Details Here

News 18  

Even as the government has started the government securities transactions in digital rupee along with the wholesale segment, Tuesday witnessed a total of 48 trades worth Rs 275 crore using the RBI’s central bank digital currency. “IDFC First Bank executed the first secondary market transaction in G-secs using CBDC settlement on Tuesday,” IDFC First said in a statement. Nine banks …

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 …

RBI to launch first pilot of Digital Rupee today
2 years, 1 month ago

RBI to launch first pilot of Digital Rupee today

India TV News  

Highlights The use case for the pilot is settlement of secondary market transactions in government securities Nine banks have been identified for participation in the pilot RBI also said the first pilot of Digital Rupee - Retail segment is planned for launch within a month RBI Digital Rupee: The Reserve Bank of India will launch first pilot of Central Bank …

Explained: How RBI is using technology to operationalise e-rupee? 10 points
2 years, 2 months ago

Explained: How RBI is using technology to operationalise e-rupee? 10 points

Hindustan Times  

The Reserve bank of India on Friday came up with a concept note detailing plan of introducing its own digital currency - the Central Bank Digital Currency. RBI is planning to start the e-rupee project on a pilot basis The RBI in its 51-page concept note detailed various aspects including the technological measures to operationalise its electronic currency, its underlying …

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 …

RBI to soon launch e-rupee on pilot basis for limited use
2 years, 2 months ago

RBI to soon launch e-rupee on pilot basis for limited use

India TV News  

Digital money : The Reserve Bank on Friday said it will soon commence the pilot launch of the e-rupee for specific use cases as it tests digital currency in India. "As the extent and scope of such pilot launches expand, RBI will continue to communicate about the specific features and benefits of e-rupee, from time to time," the central bank …

Phased implementation of digital currency for wholesale, retail segments in the works: RBI official
2 years, 5 months ago

Phased implementation of digital currency for wholesale, retail segments in the works: RBI official

The Hindu  

The Reserve Bank of India is in the process of implementing the Central Bank Digital Currency in a phased manner for wholesale and retail segments, an official said on Wednesday. The introduction of CBDC was announced in the Union Budget 2022-23, by Finance Minister Nirmala Sitharaman and necessary amendments to the relevant section of the RBI Act, 1934 have been …

Phased implementation of digital currency for wholesale, retail segments at works: RBI official
2 years, 5 months ago

Phased implementation of digital currency for wholesale, retail segments at works: RBI official

India Today  

The Reserve Bank of India is in the process of implementing the Central Bank Digital Currency in a phased manner for the wholesale and retail segments, an official said on Wednesday. The introduction of CBDC was announced in the Union Budget 2022-23, by Finance Minister Nirmala Sitharaman and necessary amendments to the relevant section of the RBI Act, 1934 has …

Sanjeev Ahluwalia | Will digital rupee take India higher, faster?
2 years, 10 months ago

Sanjeev Ahluwalia | Will digital rupee take India higher, faster?

Deccan Chronicle  

Expectations are sky-high that the “digital rupee” — a central bank digital currency announced by finance minister Nirmala Sitharaman in her Budget speech this year — will ensure a quantum jump to the digital economy, enhance GDP growth and boost financial inclusion. Transactions, within and between blocks, take place across multiple “nodes” — functionally akin to transaction termination points. A …

RBI is working on launching India's digital currency, says FM Nirmala Sitharaman
2 years, 10 months ago

RBI is working on launching India's digital currency, says FM Nirmala Sitharaman

India Today  

Finance Minister Nirmala Sitharaman on Monday said the Reserve Bank of India is working on launching India's own digital currency. DIGITAL CURRENCY "The form and shape of India's digital currency will largely depend upon the Reserve Bank of India. In her Budget 2022-23 speech on February 1, FM Sitharaman proposed the RBI would introduce digital currency in the next financial …

India's official digital currency likely to debut by early 2023, says top government source
2 years, 10 months ago

India's official digital currency likely to debut by early 2023, says top government source

Firstpost  

He said the digital currency issued by the RBI would be numbered in units, just like every fiat currency has an unique number New Delhi: India’s very own official digital currency is likely to debut by early 2023, which will mirror any of the currently available private company-operated electronic wallets, but with a change that it will be a sovereign-backed …

RBI May Consider Trials For Digital Rupee By December, Says Governor Shaktikanta Das
3 years, 3 months ago

RBI May Consider Trials For Digital Rupee By December, Says Governor Shaktikanta Das

ABP News  

New Delhi: In its attempt to implement digital currency, the Reserve Bank of India has been working on a phased implementation strategy and the pilot may be expected by the end of this year. In an interview with CNBC, RBI Governor Shaktikanta Das said, “The Reserve Bank of India may launch its first digital currency trial programs by December." Das …

Explained | Is RBI planning a digital currency for India?
3 years, 4 months ago

Explained | Is RBI planning a digital currency for India?

The Hindu  

The story so far: The Reserve Bank of India last week stated that it will soon begin working towards the "phased implementation" of its own digital currency. Central banks also believe that the cost of issuing digital currencies is far lower than the cost of printing and distributing physical cash. Many, including various central bankers, fear that people may begin …

Digital Currency to Soon Become Reality in India: RBI Working on 'Phased Introduction'
3 years, 5 months ago

Digital Currency to Soon Become Reality in India: RBI Working on 'Phased Introduction'

News 18  

The Reserve Bank of India, is moving towards bringing in Central Bank Digital Currency. He went on to add that the central bank is framing considerations for the legal framework to be put into place so that the CBDC can coexist with cash and digital payment methods in India. Having said that, it is important to note what exactly the …

RBI Contemplating Pilot Launch of Digital Currency in Near Future: Deputy Guv
3 years, 5 months ago

RBI Contemplating Pilot Launch of Digital Currency in Near Future: Deputy Guv

News 18  

The Reserve Bank is working on a phased implementation strategy for its own digital currency and is in the process of launching it in wholesale and retail segments in the near future, RBI Deputy Governor T Rabi Sankar said on Thursday. “Like other central banks, RBI has also been exploring the pros and cons of introduction of CBDC since quite …

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