First pilot of Digital Rupee to start on Tuesday: RBI
1 min readThe Reserve Bank stated the primary pilot of the Central Bank Digital Currency — Digital Rupee (Wholesale phase) might be launched on Tuesday for transactions in authorities securities.
The use case for the pilot is settlement of secondary market transactions in authorities securities, the RBI stated in an announcement on Monday.
Nine banks — State Bank of India (SBI), Bank of Baroda, Union Bank of India, HDFC Bank, ICICI Bank, Kotak Mahindra Bank, Yes Bank, IDFC First Bank and HSBC — have been recognized for participation within the pilot.
The RBI additionally stated the primary pilot of Digital Rupee – Retail phase is deliberate for launch inside a month in choose areas in closed person teams comprising prospects and retailers.
