The Reserve Bank of India (RBI) announced that the retail digital rupee will be launched on a trial basis on December 1, 2022. The central bank has identified eight banks to participate in this trial in stages.
The retail digital rupee will take the form of a legal tender digital token. The RBI will print digital currency in the same denominations as paper money and coins. Retail digital rupee transactions can be completed on mobile phones and other devices using a digital wallet. Only digital wallets provided by banks participating in the RBI’s digital rupee programme can conduct digital currency transactions.
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The Reserve Bank of India (RBI) announced that the retail digital rupee will be launched on a trial basis on December 1, 2022. The central bank has identified eight banks to participate in this trial in stages.
The retail digital rupee will take the form of a legal tender digital token. The RBI will print digital currency in the same denominations as paper money and coins. Retail digital rupee transactions can be completed on mobile phones and other devices using a digital wallet. Only digital wallets provided by banks participating in the RBI’s digital rupee programme can conduct digital currency transactions.
Disclaimer
We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.
