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In its annual report, the central bank said: "During 2023-24, the RBI aims at expanding the ongoing pilots in CBDC-Retail and CBDC-Wholesale by incorporating various use cases and features."
E-Rupee vs UPI: As per RBI’s definition, CBDC is the legal tender issued by a central bank in a digital form. It is akin to sovereign paper currency but takes a different form, exchangeable at par with the existing currency and shall be accepted as a medium of payment