E-rupee for retail users to be launched this month: RBI governor
1 min read 02 Nov 2022, 11:56 AM ISTE-rupee launch landmark moment in the history of currency in the country, will transform the way business is done.
PremiumThe RBI has started a pilot program of its digital currency from Tuesday, allowing select banks to use it for settling secondary-market transactions in government securities. On Day 1, banks traded ₹275 crore of bonds on the first day using the new form of currency. The retail part of the trial of e-rupee will be launched this month.
Reserve Bank of India's monetary policy committee (MPC) will meet on Thursday, outside its scheduled meetings, to discuss its first ever inflation target miss, which will require it to write a letter to the government. The central bank aims to keep retail inflation within 2 percentage points on either side of its 4% target over the medium-term.
Here is what RBI chief Shaktikanta Das said today at a banking conclave organized by Federation of Indian Chambers of Commerce and Industry (FICCI) and Indian Banks’ Association (IBA).
-Transparency not compromised in any manner by not releasing letter to be written by RBI to govt for missing inflation target
-Price stability, sustained growth and financial stability need not be mutually exclusive
-India today presents a picture of resilience and optimism for the world
-Retail part of Central Bank Digital Currency (CBDC) trial will be launched later this month
E-rupee launch landmark moment in the history of currency in the country, will transform the way business is done.
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