Explained: What is Digital Rupee? RBI launches first pilot project today
Digital Rupee: The RBI has been exploring the pros and cons of a central bank digital currency for some time
India's first Digital Rupee pilot project will commence today. The Reserve Bank of India (RBI) will launch the pilot for a central-bank-backed digital rupee for the wholesale segment today, November 1. "...the first pilot in the Digital Rupee - Wholesale segment shall commence on November 1, 2022," the RBI said in a statement on 'Operationalisation of Central Bank Digital Currency-Wholesale (e ₹-W) Pilot'.