The Reserve Bank of India today said that it will soon begin a pilot launch of the digital rupee or e-rupee for specific use cases as it tests the digital currency in India.
In a concept note on Central Bank Digital Currency (CBDC), the central bank said, “With the scope and scope of such pilot launches being expanded, RBI may from time to time communicate the specific features and benefits of e-rupee. will continue to do so.” ,
The concept note also discusses key considerations such as technology and design options, possible uses of the digital rupee, and the issuance mechanism.
It examines the effects of the introduction of a CBDC on the banking system, monetary policy and financial stability, and analyzes privacy issues.
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