Retail Digital Rupee

Finance Minister Nirmala Sitharaman said on Monday that Digital or e-rupee worth over Rs 130 crore was in circulation on a pilot basis as of February 28. "As on February 28, 2023, the total digital rupee - Retail (e₹-R) and digital rupee - wholesale (e₹-W) in circulation is Rs 4.14 crore and Rs 126.27 crore, respectively," Sitharaman said in a ...

Reliance Retail is set to accept India’s CBDC as a mode of payment in order to test its use-cases as well as drive its adoption. The development was confirmed by V Subramaniam, the Managing Director of Reliance Retail. Built on the distributed ledger system of blockchain, the CBDC is a digital representation of India’s fiat currency.

Central Bank Digital Currency pilot in the retail segment has components backed by blockchain technology and has several common features with physical cash, Minister of State for Finance Pankaj Chaudhary told the Lok Sabha on Monday.

India’s digital rupee CBDC went into retail trials on Thursday, December 1. The State Bank of India, ICICI Bank, Yes Bank, and IDFC First bank are the lenders that are participating in these trials, and upon completion, will testify if the CBDC is efficient and robust to use for day-to-day purchases.

The retail digital rupee makes its debut today. As the four banks selected by the Reserve Bank of India (RBI) gear up for the pilot launch of the digital rupee, here are 10 important points that you need to know about the digital currency

The RBI will begin testing the digital rupee CBDC for retail uses starting December 1. The announcement was made by the RBI on Tuesday, November 29. As part of the trials, the CBDC will be given to the testers in a digital wallet, backed by national banks participating in these trials.

Users can carry out transactions through digital wallets; only those digital wallets offered by banks participating in the RBI's digital currency drive can transact in retail digital rupee.

Retail digital rupee transactions can be carried out through a digital wallet on mobile phones and other devices.

On Monday, the Reserve Bank of India (RBI) also announced that the first pilot in Digital Rupee - Retail segment is planned for launch within a month in select locations in closed user groups.

Retailers are offering online sales of gold in bite-sized portions to prop up shrinking demand in the world's second-biggest consumer. Demand for gold is falling, partly as a result of government measures, higher local prices and the metal's fading appeal among more youthful customers. "A lot of people have been buying at one rupee," according to G...

This puts RBI in a tight spot as it walks a tightrope to balance inflation, weak currency and tight liquidity.

Finance Minister Nirmala Sitharaman said on Monday that Digital or e-rupee worth over Rs 130 crore was in circulation on a pilot basis as of February 28. "As on February 28, 2023, the total digital rupee - Retail (e₹-R) and digital rupee - wholesale (e₹-W) in circulation is Rs 4.14 crore and Rs 126.27 crore, respectively," Sitharaman said in a ...

Reliance Retail is set to accept India’s CBDC as a mode of payment in order to test its use-cases as well as drive its adoption. The development was confirmed by V Subramaniam, the Managing Director of Reliance Retail. Built on the distributed ledger system of blockchain, the CBDC is a digital representation of India’s fiat currency.

Central Bank Digital Currency pilot in the retail segment has components backed by blockchain technology and has several common features with physical cash, Minister of State for Finance Pankaj Chaudhary told the Lok Sabha on Monday.

India’s digital rupee CBDC went into retail trials on Thursday, December 1. The State Bank of India, ICICI Bank, Yes Bank, and IDFC First bank are the lenders that are participating in these trials, and upon completion, will testify if the CBDC is efficient and robust to use for day-to-day purchases.

The retail digital rupee makes its debut today. As the four banks selected by the Reserve Bank of India (RBI) gear up for the pilot launch of the digital rupee, here are 10 important points that you need to know about the digital currency

The RBI will begin testing the digital rupee CBDC for retail uses starting December 1. The announcement was made by the RBI on Tuesday, November 29. As part of the trials, the CBDC will be given to the testers in a digital wallet, backed by national banks participating in these trials.

Users can carry out transactions through digital wallets; only those digital wallets offered by banks participating in the RBI's digital currency drive can transact in retail digital rupee.

Retail digital rupee transactions can be carried out through a digital wallet on mobile phones and other devices.

On Monday, the Reserve Bank of India (RBI) also announced that the first pilot in Digital Rupee - Retail segment is planned for launch within a month in select locations in closed user groups.

Retailers are offering online sales of gold in bite-sized portions to prop up shrinking demand in the world's second-biggest consumer. Demand for gold is falling, partly as a result of government measures, higher local prices and the metal's fading appeal among more youthful customers. "A lot of people have been buying at one rupee," according to G...

This puts RBI in a tight spot as it walks a tightrope to balance inflation, weak currency and tight liquidity.