March 28, 2023

Urban Tech Story | RBI pilots digital rupee

RBI pilots digital rupee

The Reserve Bank of India announced on Monday that it will pilot a digital rupee in the wholesale market from November 1. The central bank claims that using the digital rupee for settlement will reduce transaction costs. Nine Indian banks are participating in the pilot, including State Bank of India. The RBI also said it plans to pilot a digital rupee in the retail sector in selected locations within a month. It remains firmly opposed to cryptocurrencies.

Ewen Eagle

I am the founder of Urbantechstory, a Technology based blog. where you find all kinds of trending technology, gaming news, and much more.

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