First pilot of Digital Rupee to commence on Tuesday: RBI
PTI, Oct 31, 2022, 6:37 PM IST
Image Courtesy: Reuters
Mumbai: The Reserve Bank said the first pilot of the Central Bank Digital Currency — Digital Rupee (Wholesale segment) will be launched on Tuesday for transactions in government securities.
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.
Operationalisation of Central Bank Digital Currency-Wholesale (e₹-W) Pilothttps://t.co/wsvGUOlErT
— ReserveBankOfIndia (@RBI) October 31, 2022
Udayavani is now on Telegram. Click here to join our channel and stay updated with the latest news.
Top News
Related Articles More
India not reaping benefits of democratic dividend: Raghuram Rajan
Markets slump for third day on fears of escalating tensions in Middle East; IT stocks drag
Tesla is planning to lay off 10 of its workers after dismal 1Q sales, multiple news outlets report
With just Rs 150 base airfare take a 50-minute flight
Byju’s founder Raveendran to take over firm’s daily operations after CEO Mohan’s resignation
MUST WATCH
Latest Additions
Youth detained for Facebook threat to BJP MLA in Nashik
NE’s integration with rest of India happened under Modi govt: BJP chief Nadda
Congress spokesperson booked for alleged hate speech
BJP files complaint with EC against Sowmya Reddy, others for alleged violation of poll code
Siddaramaiah slams BJP candidate for visiting house of alleged police recruitment scam kingpin