When was India's Central Bank Digital Currency e-Rupee launched?
India's Central Bank Digital Currency, the e-Rupee, was launched on December 1, 2022.
merchants in the five cities of Mumbai, New Delhi, Bengaluru, Bhubaneswar and Chandigarh.
The RBI has said that it plans to launch a full-fledged CBDC in the coming years.
The e-Rupee will be a digital token that represents legal tender and will be issued by the RBI.
It will be available in both wholesale and retail segments.
The wholesale CBDC will be used for large value transactions between banks and financial institutions.
The retail CBDC will be used by individuals and businesses for everyday transactions.
The RBI has said that the e-Rupee will help to improve financial inclusion,
make payments more efficient and secure, and reduce the cost of cash transactions.
It will also help to promote digitalization in the economy.