Stay updated with breaking news from Digital Rupee. Get real-time updates on events, politics, business, and more. Visit us for reliable news and exclusive interviews.
An RBI concept note says that the cost of cash management in India has continued to be significant. The total expenditure incurred on security printing during April 1, 2021 to March 31, 2022 was Rs 4,984.80 crore as against Rs 4,012.10 crore in the previous year (July 1, 2020 to March 31, 2021).
E-Rupee is a digital version of currency notes issued by a central bank, a kind of digital money that can be used in contactless transactions.
RBI has said that the first pilot in Digital Rupee - Retail segment (e₹-R) is planned for launch within a month in select locations in closed user groups comprising customers and merchants.
Ahead of unscheduled meeting of the MPC on November 3, Das said on Wednesday that acting prematurely on inflation would have exerted a heavy cost on the economy and citizens.
You won't need to carry cash around anymore because the Reserve Bank of India has launched digital currency in India as of Tuesday.