The pilot project for the Central Bank Digital Currency in the retail segment (e₹-R) was launched on 1st December 2022 by the Reserve Bank of India (RBI). It was aimed at evaluating the digital rupee's use in real-world retail transactions, involving selected locations and limited users such as customers and merchants.
This launch followed the earlier wholesale CBDC pilot (e₹-W) launched on 1st November 2022, which was restricted to the settlement of secondary market transactions in government securities. The retail CBDC is intended to offer a digital alternative to cash and promote efficiency in payment systems.
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