RBI Retail Digital Rupee pilot project launched in India -- Here's understanding e₹-R in 10 Key points
Eight banks have been identified for phase-wise participation in RBI Retail Digital Rupee pilot. The first phase will begin with four banks, viz., State Bank of India, ICICI Bank, Yes Bank and IDFC First Bank in four cities across the country. Four more banks, viz., Bank of Baroda, Union Bank of India, HDFC Bank and Kotak Mahindra Bank will join this pilot subsequently.
Dec 01, 2022, 10:55 AM IST
RBI Retail Digital rupee launching today, December 1: Check full list of cities, banks offering digital wallet transaction
Users will be able to transact with e₹-R through a digital wallet offered by the participating banks and stored on mobile phones / devices. Transactions can be both Person to Person (P2P) and Person to Merchant (P2M).
Dec 01, 2022, 08:44 AM IST
Explained: What is retail digital rupee (e ₹-R) that RBI will launch on Dec 1 for pilot project?
The e ₹-R is a virtual token that can be used as a legal tender, according to the RBI. It would be issued in the same denominations that paper currency and coins are currently issued. It would be distributed through intermediaries, i.e., banks.
Nov 30, 2022, 21:34 PM IST
RBI Retail Digital rupee launching tomorrow, December 1: Check full list of banks offering digital wallet transaction
The e₹-R 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. It would be distributed through intermediaries, i.e., banks.
Nov 30, 2022, 13:35 PM IST
RBI lifts restriction on Uttar Pradesh Civil Secretariat Primary Co-operative Bank
The Bank management committee will give a plan for the workability of the bank to RBI in next 6 weeks.
Dec 10, 2020, 09:54 AM IST
