The Reserve Bank of India today said it will soon commence the pilot launch of digital Rupee or e-Rupee for specific use cases as it tests digital currency in India.
"As the extent and scope of such pilot launches expand, RBI will continue to communicate about the specific features and benefits of e-rupee, from time to time," the central bank said in a concept note on Central Bank Digital Currency (CBDC).
The concept note also discusses key considerations such as technology and design choices, possible uses of the digital rupee, and issuance mechanisms, among others.
It examines the implications of the introduction of CBDC on the banking system, monetary policy, and financial stability, and analyses privacy issues.
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