RBI to launch Digital Currency tomorrow for the Wholesale segment
Digital Rupee trials to start from Tuesday, November 1
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Digital Rupee trials to start from Tuesday, November 1
Simply put, it is a digital form of fiat currency, i.e. The Indian Rupee. As a result, it can be exchanged for fiat currency one for one.
The Reserve Bank of India (RBI) will launch first pilot of Digital Rupee for the wholesale segment on November 1, 2022 (Tuesday), a statement said on Monday.
Digital Rupee Launch Date: The RBI also said the first pilot of the Digital Rupee - Retail segment is planned for launch within a month in select locations in closed user groups comprising customers and merchants.
The digital currency is equivalent to the banknote but will be issued in electronic form.