Kotak Mahindra Bank implements RBI's first phase of Digital Rupee1 min read . Updated: 02 Feb 2023, 01:27 PM IST
- Kotak Mahindra Bank rolled out the Central Bank Digital Currency (CBDC) to a Closed User Group (CUG) of customers, which includes retail consumers and businesses
Kotak Mahindra Bank Limited (KMBL) on Thursday announced that it has implemented the first phase of the Reserve Bank of India's (RBI) Digital Rupee (eRs). KMBL is among the eight banks shortlisted by RBI to implement a pilot project for issuance of Digital Rupee, a legal tender that is similar to bank notes and coins, issued in a digital form by RBI.
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