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

"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"

October 07, 2022 04:59 pm | Updated October 08, 2022 11:54 am IST - Mumbai

Representational image.

Representational image. | Photo Credit: Getty Images

The Reserve Bank on Friday said it will soon commence the pilot launch of 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 said in a concept note on Central Bank Digital Currency (CBDC).

Explained | RBI’s digital currency plans

The concept note also discusses key considerations such as technology and design choices, possible uses of the digital rupee, and issuance mechanisms, among others.

It examines the implications of the introduction of CBDC on the banking system, monetary policy, and financial stability, and analyses privacy issues.

Top News Today

Comments

Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.

We have migrated to a new commenting platform. If you are already a registered user of The Hindu and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.