The Reserve Bank of India (RBI) has launched the first pilot for the e-rupee, its central bank digital currency (CBDC). According to a press release signed by Yogesh Dayal, the RBI’s chief general manager, the pilot will begin on December 1, 2022. The central bank hinted in October that the experiment would begin in December, and the latest release clarifies this for all parties. The pilot will “test the robustness of the entire process of digital rupee creation, distribution, and retail usage in real-time,” according to the RBI’s statement. The pilot starts with four financial institutions: the State Bank of India, ICICI Bank, Yes Bank, and IDFC First Bank.
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