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HighlightsThe use case for the pilot is settlement of secondary market transactions in government securities Nine banks have been identified for participation in the pilot RBI also said the first pilot of Digital Rupee – Retail segment is planned for launch within a month
RBI Digital Rupee: The Reserve Bank of India (RBI) will launch first pilot of Central Bank Digital Currency — Digital Rupee (Wholesale segment) on November 1, 2022 (Tuesday) for transactions in government securities, a statement said on Monday.
The use case for the pilot is settlement of secondary market transactions in government securities, the RBI said in a statement on Monday.
Nine banks — State Bank of India (SBI), Bank of Baroda, Union Bank of India, HDFC Bank, ICICI Bank, Kotak Mahindra Bank, Yes Bank, IDFC First Bank and HSBC — have been identified for participation in the pilot.
The RBI also said the first pilot of Digital Rupee – Retail segment is planned for launch within a month in select locations in closed user groups comprising customers and merchants.
(With inputs from PTI)
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