Sovereign · December 1, 2022
RBI launches retail digital rupee (e₹-R) pilot
Price at event
$16,979
Today
$73,538
Since then
×4.3
On 1 December 2022 the Reserve Bank of India switched on its retail CBDC pilot, putting tokenized rupees in the hands of a carefully fenced-off "closed user group" of customers and merchants across Mumbai, New Delhi, Bengaluru, Bhubaneswar and Chandigarh. Four banks went first, with four more queued behind them, and the e₹-R was issued in the same denominations as the paper notes it nominally replaces. It remains one of the largest retail CBDC experiments by addressable population, if not by enthusiasm.
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