Retail Rupee
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What Is Retail Rupee, RBI's Big Bet To Redefine How India Uses Money
According to recent reports, Retail Rupee has crossed Rs 34,000 crore in transactions nationwide. It works differently than UPI.
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Rupee Nears 93, Inflation At 10-Month High: What It Means For Your Money
Iran War Impact: The conflict in the Middle East has disrupted energy markets and pushed crude oil prices above $100 a barrel, raising concerns about both inflation and currency stability.
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PM Narendra Modi's Watch Featuring 1947 One Rupee Coin Viral: Price, Details And More
The distinctive feature of the watch, which retails for approximately Rs 55,000 to Rs 60,000, is a rare 1947 one-rupee coin embedded in its face.
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RBI-Backed Digital Currency to Be Launched in India, Union Minister Piyush Goyal Says
The country will launch an RBI-backed digital currency to discourage unbacked cryptocurrencies. Union Minister Piyush Goyal said heavy taxation will deter risky tokens, while the new digital rupee enables faster, traceable payments. Experts see the move as a shift from a "tax-and-tolerate" approach to stricter oversight, favouring compliance-aligne...
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UPI 'Miracle' Helps Wife Recover Lost Phone, Husband Shares Heartwarming Story
A viral Reddit post has highlighted how UPI's utility extends beyond transactions, with a woman recovering her lost phone due to the technology.
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RBI Governor Says Permanent Deletion of Transactions Would Make CBDCs Like Cash Notes
RBI governor Shaktikanta Das disclosed some more intricacies about the eRupee. Speaking at the BIS Innovation Summit 2024, in Basel, Switzerland, Das has said that India’s CBDC would offer the same privacy for transactions that cash notes offer.
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RBI Proposes Support for CBDC Distribution via Non-Bank Payment Operators
The RBI has decided to expand ways to distribute the CBDC within the retail ecosystem. Until now, India's CBDC distribution was being tested by banks that are part of its trials but soon third-party payment operators like Google Pay and PhonePe will also be able to distribute the CBDC.
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Canara Bank Rolls Out CBDC App Interoperable With UPI, Users Highlight Issues
Canara Bank has launched an app to process eRupee payments between select customers and retailers. The launch of this app this week, makes Canara Bank the first mainstream Indian lender to have created a special platform to initiate CBDC payments as India marches forward with its eRupee trials.
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Reserve Bank of India Calls on More Lenders to Take Part in Pilot for Retail Digital Rupee: Report
The Reserve Bank of India (RBI) has called on a wider set of lenders to take part in pilot programmes using the central bank digital currency (CBDC) as it tries to increase transactions, three bankers told Reuters on Wednesday. Currently, large state-owned and private lenders, including State Bank of India, Bank of Baroda, ICICI Bank, HDFC Bank, Ko...
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RBI's CBDC Can Now Be Accepted at Reliance General Insurance Through Yes Bank
Reliance General Insurance on Wednesday said it has become a forerunner general insurance company in the country to accept the Reserve Bank of India’s (RBI) Central Bank Digital Currency e-Rupee for premium payments. The company has tied up with Yes Bank to facilitate the collection of premiums in the digital mode using the bank's e-Rupee platfor...
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E-Rupee Worth Over Rs. 130 Crore in Circulation, Says FM Nirmala Sitharaman
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 ...
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Reliance Retail to Accept Digital Rupee CBDC for Payments in Mumbai Amid India’s Silence on Crypto
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.
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Poco Aiming for 60 Percent Business Jump in 2023, Upgrades to 5G Phones to Drive Growth: Himanshu Tandon
Poco expects upgrades to 5G mobile phones from 4G to drive growth in 2023, Poco India Country Head Himanshu Tandon has revealed. The sub-Rs 10,000 smartphone segment is likely to be most impacted because of inflationary pressures and rupee depreciation, and the industry will see strong competition in the Rs 20,000-Rs 30,000 mobile phone segment, ac...
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Digital Rupee Trial Begins; Exponential Growth in UPI Payments Backs Optimism on India’s CBDC Pilot: Experts
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.
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RBI’s First Pilot for Retail Digital Rupee to Go Live on December 1, Will Work in Select Locations
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.
-
What Is Retail Rupee, RBI's Big Bet To Redefine How India Uses Money
According to recent reports, Retail Rupee has crossed Rs 34,000 crore in transactions nationwide. It works differently than UPI.
-
Rupee Nears 93, Inflation At 10-Month High: What It Means For Your Money
Iran War Impact: The conflict in the Middle East has disrupted energy markets and pushed crude oil prices above $100 a barrel, raising concerns about both inflation and currency stability.
-
PM Narendra Modi's Watch Featuring 1947 One Rupee Coin Viral: Price, Details And More
The distinctive feature of the watch, which retails for approximately Rs 55,000 to Rs 60,000, is a rare 1947 one-rupee coin embedded in its face.
-
RBI-Backed Digital Currency to Be Launched in India, Union Minister Piyush Goyal Says
The country will launch an RBI-backed digital currency to discourage unbacked cryptocurrencies. Union Minister Piyush Goyal said heavy taxation will deter risky tokens, while the new digital rupee enables faster, traceable payments. Experts see the move as a shift from a "tax-and-tolerate" approach to stricter oversight, favouring compliance-aligne...
-
UPI 'Miracle' Helps Wife Recover Lost Phone, Husband Shares Heartwarming Story
A viral Reddit post has highlighted how UPI's utility extends beyond transactions, with a woman recovering her lost phone due to the technology.
-
RBI Governor Says Permanent Deletion of Transactions Would Make CBDCs Like Cash Notes
RBI governor Shaktikanta Das disclosed some more intricacies about the eRupee. Speaking at the BIS Innovation Summit 2024, in Basel, Switzerland, Das has said that India’s CBDC would offer the same privacy for transactions that cash notes offer.
-
RBI Proposes Support for CBDC Distribution via Non-Bank Payment Operators
The RBI has decided to expand ways to distribute the CBDC within the retail ecosystem. Until now, India's CBDC distribution was being tested by banks that are part of its trials but soon third-party payment operators like Google Pay and PhonePe will also be able to distribute the CBDC.
-
Canara Bank Rolls Out CBDC App Interoperable With UPI, Users Highlight Issues
Canara Bank has launched an app to process eRupee payments between select customers and retailers. The launch of this app this week, makes Canara Bank the first mainstream Indian lender to have created a special platform to initiate CBDC payments as India marches forward with its eRupee trials.
-
Reserve Bank of India Calls on More Lenders to Take Part in Pilot for Retail Digital Rupee: Report
The Reserve Bank of India (RBI) has called on a wider set of lenders to take part in pilot programmes using the central bank digital currency (CBDC) as it tries to increase transactions, three bankers told Reuters on Wednesday. Currently, large state-owned and private lenders, including State Bank of India, Bank of Baroda, ICICI Bank, HDFC Bank, Ko...
-
RBI's CBDC Can Now Be Accepted at Reliance General Insurance Through Yes Bank
Reliance General Insurance on Wednesday said it has become a forerunner general insurance company in the country to accept the Reserve Bank of India’s (RBI) Central Bank Digital Currency e-Rupee for premium payments. The company has tied up with Yes Bank to facilitate the collection of premiums in the digital mode using the bank's e-Rupee platfor...
-
E-Rupee Worth Over Rs. 130 Crore in Circulation, Says FM Nirmala Sitharaman
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 to Accept Digital Rupee CBDC for Payments in Mumbai Amid India’s Silence on Crypto
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.
-
Poco Aiming for 60 Percent Business Jump in 2023, Upgrades to 5G Phones to Drive Growth: Himanshu Tandon
Poco expects upgrades to 5G mobile phones from 4G to drive growth in 2023, Poco India Country Head Himanshu Tandon has revealed. The sub-Rs 10,000 smartphone segment is likely to be most impacted because of inflationary pressures and rupee depreciation, and the industry will see strong competition in the Rs 20,000-Rs 30,000 mobile phone segment, ac...
-
Digital Rupee Trial Begins; Exponential Growth in UPI Payments Backs Optimism on India’s CBDC Pilot: Experts
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.
-
RBI’s First Pilot for Retail Digital Rupee to Go Live on December 1, Will Work in Select Locations
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.
