Reserve Bank of India: Retail Digital RBI ( RBI ) RBI ( Central Bank Digital Currency ) CBDC <TAG1> Pilot project started on Thursday in Mumbai, New Delhi, Bengaluru and Bhubaneswar.
State Bank of India: Dinesh Khara, chairman of the State Bank of India ( SBI), said that the digital rupee of the Reserve Bank of India ( RBI ) will be the dice overturning subit. This will allow monetary policy to benefit better at a much lower cost with sustainable impact. Retail Digital Rs. The central bank digital currency ( CBDC ) pilot project of RBI ( RBI ) started on Thursday in Mumbai, New Delhi, Bengaluru and Bhubaneswar. State Bank of India ( SBI ) is one of the banks participating in it.
Project started from these four banks
Retail Digital Rupee Project Four Banks SBI ( SBI ), ICICI Bank ( ICICI Bank ), Yes Bank ( YES Bank ) and IDFC First Bank ( IDFC First Bank ) and started with customers and merchants. Khara said in the statement, ‘The pilot project on RBI ( RBI ) CBDC will prove to be the dice overturning. With sustainable impact, monetary policy should be better benefited at a much lower cost.’
Digital rupee will start in nine more cities
He said that it will support the currency system issued in the trend and will complete the currency structure overall. The retail digital rupee project involving four other banks in the second phase will be released in nine other cities.
No interest will be received in digital rupees
On 29 November, the central bank announced the pilot project on digital rupees, saying, ‘Unlike cash rupees, no interest will be found in it and it can be changed to other forms of other rupees including deposits in banks. The use of digital rupees is also expected to reduce operating costs related to the management of physical currency. Also, financial inclusion in the economy is likely to increase. ( input PTI )
