Ultimate Guide to Navigate the Digital Rupee
July 25, 2023 ⚊ 1 Min read ⚊ Views 31 ⚊ BLOG
India’s digital currency, known as the Digital Rupee or e-Rupee, made its debut in the last quarter of 2022 within the country’s financial sector. The Reserve Bank of India (RBI) is responsible for issuing this central bank digital currency (CBDC). On December 1, 2022, the RBI introduced the e-Rupee pilot program, initially limited to selected user groups in specific cities.
Currently, in early July 2023, participation in the pilot program is by invitation only, requiring a special invitation from your bank to join. During the past six months, the RBI has been gradually expanding the availability of the e-Rupee, extending invitations to more cities and bank customers. Once you receive your invitation, you’ll likely be eager to explore and utilize this new Indian CBDC.
