RBI commences pilot programme of Digital Rupee

The Reserve Bank of India, or RBI, has commenced the pilot programme of the Digital Rupee in the wholesale segment from today- November 1. The RBI has announced nine banks that would participate in the pilot. The banks include- State Bank of India, ICICI Bank, Union Bank of India, Bank of Baroda, Kotak Mahindra Bank, YES Bank, HDFC Bank, IDFC First Bank and HSBC. What exactly are Central Bank Digital Currencies or CBDC? Why is the RBI’s Digital Rupee pilot project? How will the CBDC help enhance the economy? Listen in. --- Send in a voice message: https://podcasters.spotify.com/pod/show/business-line/message