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Barely months before unveiling the CBDC pilot in both retail and wholesale segments, the central bank allowed rupee settlement for international trade as a step towards internationalisation of the rupee. Banks from 18 countries have opened rupee vostro accounts since July last year, helping their importers settle payments in the rupee.
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Report says there are 4,55,468 lakh pieces of Rs 2,000 notes amounting to Rs 3,62,220 crore at end-March
The Reserve Bank on Tuesday said the scope of the Central Bank Digital Currency (CBDC) pilot is being expanded gradually to include more banks and locations. The first pilot in the Digital Rupee -Wholesale Segment (e rupee-W) commenced on November 1, 2022. It was followed by the first pilot for
The report added that on the back of sound macroeconomic policies and softer commodity prices, India's growth momentum is likely to be sustained in 2023-24 in an atmosphere of easing inflationary pressures.